Lodestone Wealth Management LLC Sells 21,971 Shares of Ovintiv Inc. (NYSE:OVV)

Lodestone Wealth Management LLC reduced its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 48.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,973 shares of the company's stock after selling 21,971 shares during the quarter. Lodestone Wealth Management LLC's holdings in Ovintiv were worth $930,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OVV. True Wealth Design LLC boosted its position in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company's stock valued at $25,000 after purchasing an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new stake in Ovintiv in the third quarter worth $65,000. Covestor Ltd raised its holdings in Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company's stock valued at $70,000 after buying an additional 560 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Ovintiv by 13.4% during the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock worth $97,000 after acquiring an additional 282 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Stock Performance

OVV stock traded up $0.99 during midday trading on Wednesday, hitting $45.43. The stock had a trading volume of 2,014,593 shares, compared to its average volume of 2,440,393. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $42.45 and a 200 day simple moving average of $42.06. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of 6.03 and a beta of 2.60.

Analyst Upgrades and Downgrades

OVV has been the subject of several analyst reports. Scotiabank boosted their target price on Ovintiv from $50.00 to $53.00 and gave the stock a "sector outperform" rating in a report on Monday, November 18th. Mizuho reduced their price objective on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Barclays raised their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Wells Fargo & Company cut their target price on shares of Ovintiv from $48.00 to $42.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. Finally, UBS Group lowered their price target on Ovintiv from $59.00 to $56.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ovintiv has a consensus rating of "Moderate Buy" and a consensus price target of $56.88.

Ovintiv Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.