AustralianSuper Pty Ltd acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 166,407 shares of the company's stock, valued at approximately $6,375,000. AustralianSuper Pty Ltd owned about 0.06% of Ovintiv at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OVV. Innealta Capital LLC bought a new stake in Ovintiv in the second quarter worth $39,000. Geneos Wealth Management Inc. boosted its stake in shares of Ovintiv by 53.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company's stock worth $45,000 after acquiring an additional 300 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock worth $50,000 after acquiring an additional 286 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Ovintiv during the 2nd quarter valued at about $69,000. Finally, Covestor Ltd raised its stake in shares of Ovintiv by 23.1% in the 1st quarter. Covestor Ltd now owns 1,559 shares of the company's stock valued at $81,000 after acquiring an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on OVV. Wells Fargo & Company decreased their target price on Ovintiv from $51.00 to $42.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 1st. Mizuho decreased their price objective on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a report on Wednesday, October 9th. Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. cut their target price on shares of Ovintiv from $60.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Finally, Citigroup lowered their price target on Ovintiv from $58.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.00.
Read Our Latest Stock Report on OVV
Ovintiv Stock Performance
Shares of NYSE:OVV traded down $0.22 during trading on Friday, hitting $38.98. 2,066,902 shares of the stock were exchanged, compared to its average volume of 3,063,869. The company's fifty day simple moving average is $40.73 and its 200-day simple moving average is $45.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 7.48 and a beta of 2.61. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95.
Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.53 billion. Sell-side analysts expect that Ovintiv Inc. will post 4.91 EPS for the current fiscal year.
Ovintiv Company Profile
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Free Report)
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.
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