AustralianSuper Pty Ltd Has $7.95 Million Position in Ovintiv Inc. (NYSE:OVV)

AustralianSuper Pty Ltd grew its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 196,368 shares of the company's stock after purchasing an additional 29,961 shares during the quarter. AustralianSuper Pty Ltd owned about 0.08% of Ovintiv worth $7,953,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in OVV. Sanctuary Advisors LLC acquired a new position in shares of Ovintiv during the second quarter worth approximately $302,000. CWM LLC boosted its holdings in Ovintiv by 6.0% in the 3rd quarter. CWM LLC now owns 13,531 shares of the company's stock valued at $518,000 after purchasing an additional 769 shares during the period. Creative Planning grew its position in Ovintiv by 3.8% in the 3rd quarter. Creative Planning now owns 33,244 shares of the company's stock worth $1,274,000 after purchasing an additional 1,203 shares during the last quarter. Blue Trust Inc. raised its position in shares of Ovintiv by 120.2% during the third quarter. Blue Trust Inc. now owns 3,949 shares of the company's stock valued at $151,000 after buying an additional 2,156 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Ovintiv by 1.2% in the third quarter. Raymond James & Associates now owns 196,518 shares of the company's stock valued at $7,529,000 after buying an additional 2,275 shares during the period. 83.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on OVV. Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and cut their price target for the company from $55.00 to $54.00 in a report on Monday, January 13th. Citigroup dropped their price target on shares of Ovintiv from $55.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Scotiabank lifted their price objective on Ovintiv from $50.00 to $53.00 and gave the company a "sector outperform" rating in a report on Monday, November 18th. Mizuho decreased their price target on Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Finally, Wells Fargo & Company cut their price objective on Ovintiv from $48.00 to $42.00 and set an "equal weight" rating for the company in a report on Tuesday, December 17th. Four investment 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.88.

Ovintiv Trading Up 2.2 %

Shares of NYSE OVV 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. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The firm has a market cap of $11.83 billion, a P/E ratio of 6.03 and a beta of 2.60. The company's 50-day simple moving average is $42.39 and its 200 day simple moving average is $42.03.

Ovintiv Company 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.