Mediolanum International Funds Ltd Has $1.02 Million Position in Ovintiv Inc. (NYSE:OVV)

Mediolanum International Funds Ltd raised its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 92.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,625 shares of the company's stock after acquiring an additional 12,289 shares during the period. Mediolanum International Funds Ltd's holdings in Ovintiv were worth $1,017,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. raised 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. Assenagon Asset Management S.A. raised its position in shares of Ovintiv by 7,422.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company's stock valued at $52,064,000 after buying an additional 1,340,947 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised 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 buying an additional 1,207,610 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Ovintiv by 1,807.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company's stock valued at $32,070,000 after buying an additional 750,349 shares during the period. Finally, Victory Capital Management Inc. grew its position in Ovintiv by 42.6% during the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company's stock worth $44,991,000 after buying an additional 350,909 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Trading Down 2.5 %

OVV traded down $1.07 during trading on Thursday, reaching $42.29. 3,275,294 shares of the company's stock were exchanged, compared to its average volume of 2,558,396. 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 one year low of $36.90 and a one year high of $55.95. The firm has a fifty day moving average price of $42.29 and a two-hundred day moving average price of $42.17. The stock has a market capitalization of $11.01 billion, a PE ratio of 5.61 and a beta of 2.60.

Ovintiv (NYSE:OVV - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.76. The company had revenue of $2.32 billion for the quarter, compared to analysts' expectations of $2.32 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. During the same quarter in the previous year, the firm posted $1.74 earnings per share. As a group, equities research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on OVV shares. National Bankshares upped their target price on Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Barclays upped their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Mizuho dropped their target price on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Wells Fargo & Company cut their price target on shares of Ovintiv from $48.00 to $42.00 and set an "equal weight" rating for the company in a report on Tuesday, December 17th. Finally, Truist Financial boosted their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Four 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.