Ieq Capital LLC Increases Stake in Ovintiv Inc. (NYSE:OVV)

Ieq Capital LLC boosted its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 1,774.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,284 shares of the company's stock after purchasing an additional 150,785 shares during the quarter. Ieq Capital LLC owned approximately 0.06% of Ovintiv worth $6,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company's stock valued at $314,623,000 after acquiring an additional 1,207,610 shares during the period. Pacer Advisors Inc. lifted its stake in Ovintiv by 11,282.4% in the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company's stock worth $250,687,000 after purchasing an additional 6,486,159 shares in the last quarter. Smead Capital Management Inc. boosted its holdings in Ovintiv by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company's stock valued at $241,476,000 after purchasing an additional 212,535 shares during the period. Geode Capital Management LLC raised its position in shares of Ovintiv by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company's stock worth $173,296,000 after buying an additional 205,409 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ovintiv by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,627 shares of the company's stock valued at $71,587,000 after buying an additional 133,192 shares during the period. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Scotiabank upped their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the stock a "sector outperform" rating in a research report on Monday, November 18th. Citigroup decreased their price target on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Bank of America raised shares of Ovintiv from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Truist Financial upped their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Barclays raised their price target on Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.88.

Ovintiv Trading Down 4.9 %

Shares of OVV stock traded down $2.21 during mid-day trading on Friday, reaching $43.33. The stock had a trading volume of 2,740,873 shares, compared to its average volume of 2,453,408. The firm has a market capitalization of $11.28 billion, a PE ratio of 5.75 and a beta of 2.60. The stock's 50-day moving average price is $42.54 and its two-hundred day moving average price is $42.08. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95.

About Ovintiv

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.