Savant Capital LLC Invests $1.73 Million in Ovintiv Inc. (NYSE:OVV)

Savant Capital LLC acquired a new stake in Ovintiv Inc. (NYSE:OVV - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 42,641 shares of the company's stock, valued at approximately $1,727,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Ovintiv by 0.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock valued at $2,647,000 after acquiring an additional 231 shares in the last quarter. Drive Wealth Management LLC lifted its stake in shares of Ovintiv by 2.5% in the 3rd quarter. Drive Wealth Management LLC now owns 10,309 shares of the company's stock valued at $395,000 after purchasing an additional 251 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Ovintiv by 3.7% in the third quarter. CIBC Asset Management Inc now owns 7,937 shares of the company's stock worth $304,000 after purchasing an additional 280 shares in the last quarter. Fifth Third Bancorp increased its position in Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock worth $97,000 after buying an additional 282 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in Ovintiv by 5.2% during the third quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company's stock valued at $231,000 after buying an additional 298 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 research analysts have recently commented on the company. Truist Financial increased their price objective on Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. National Bankshares lifted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price objective 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. Scotiabank lifted their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a "sector outperform" rating in a report on Monday, November 18th. Finally, Barclays upped their price target on shares of Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ovintiv presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.88.

Ovintiv Price Performance

NYSE OVV traded up $0.88 on Monday, reaching $44.15. The company's stock had a trading volume of 1,909,320 shares, compared to its average volume of 2,547,620. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.49 billion, a PE ratio of 5.86 and a beta of 2.60. The business has a 50-day moving average price of $42.32 and a 200 day moving average price of $42.01.

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.