Ovintiv Inc. (NYSE:OVV) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 759,036 shares of the company's stock after acquiring an additional 21,181 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of Ovintiv worth $30,741,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. AustralianSuper Pty Ltd raised its stake in Ovintiv by 18.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 196,368 shares of the company's stock valued at $7,953,000 after acquiring an additional 29,961 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Ovintiv by 15.2% in the 4th quarter. Van ECK Associates Corp now owns 3,587 shares of the company's stock worth $145,000 after acquiring an additional 473 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Ovintiv by 2,987.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 28,191 shares of the company's stock valued at $1,173,000 after purchasing an additional 27,278 shares in the last quarter. Summit Trail Advisors LLC acquired a new position in shares of Ovintiv during the 4th quarter worth $205,000. Finally, Savant Capital LLC acquired a new position in Ovintiv during the fourth quarter worth about $1,727,000. Institutional investors and hedge funds own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OVV. Citigroup lowered their target price on Ovintiv from $55.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Mizuho dropped their target price on Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. National Bankshares raised their price target on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Truist Financial upped their price objective on Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Bank of America raised Ovintiv from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $55.00 to $54.00 in a research note on Monday, January 13th. 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 company's stock. According to MarketBeat.com, Ovintiv currently has a consensus rating of "Moderate Buy" and an average price target of $56.88.

Ovintiv Stock Down 4.9 %

Shares of NYSE OVV traded down $2.21 during midday trading on Friday, reaching $43.33. 2,740,873 shares of the company's stock were exchanged, compared to its average volume of 2,453,398. The stock has a market capitalization of $11.28 billion, a PE ratio of 5.75 and a beta of 2.60. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The business's fifty day moving average price is $42.54 and its two-hundred day moving average price is $42.08.

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.