Ovintiv Inc. (NYSE:OVV) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 93.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,034 shares of the company's stock after selling 40,674 shares during the period. SG Americas Securities LLC's holdings in Ovintiv were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in OVV. True Wealth Design LLC lifted its holdings in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company's stock worth $25,000 after buying an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after purchasing an additional 360 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after purchasing an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of Ovintiv in the 3rd quarter valued at $65,000. Finally, Covestor Ltd raised its holdings in shares of Ovintiv by 43.9% in the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company's stock valued at $70,000 after purchasing an additional 560 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Ovintiv from $48.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 17th. National Bankshares lifted their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Mizuho dropped their price target on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Truist Financial boosted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Barclays boosted their price target on shares of Ovintiv from $57.00 to $59.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $56.88.

Ovintiv Price Performance

Shares of NYSE OVV traded up $0.88 on Friday, hitting $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 12-month low of $36.90 and a 12-month high of $55.95. The company has a market capitalization of $11.49 billion, a price-to-earnings ratio of 5.86 and a beta of 2.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a 50 day moving average of $42.27 and a 200-day moving average of $42.07.

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.