Ovintiv Inc. (NYSE:OVV) Stock Holdings Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in Ovintiv Inc. (NYSE:OVV) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,680 shares of the company’s stock after selling 990 shares during the period. State of Alaska Department of Revenue’s holdings in Ovintiv were worth $1,202,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OVV. Raymond James & Associates increased 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 purchasing an additional 2,275 shares during the period. Franklin Resources Inc. raised its holdings in shares of Ovintiv by 16.0% during the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock valued at $11,527,000 after buying an additional 37,341 shares during the last quarter. Smead Capital Management Inc. raised its holdings in shares of Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after buying an additional 212,535 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of Ovintiv by 4.4% during the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock valued at $12,288,000 after buying an additional 13,536 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in shares of Ovintiv by 319.9% during the third quarter. Entropy Technologies LP now owns 149,457 shares of the company’s stock valued at $5,726,000 after buying an additional 113,866 shares during the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Trading Down 5.8 %

Ovintiv stock opened at $42.76 on Thursday. 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 firm has a market cap of $11.13 billion, a price-to-earnings ratio of 5.67 and a beta of 2.60. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The firm’s 50 day moving average price is $42.19 and its two-hundred day moving average price is $42.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OVV shares. Truist Financial lifted their price target on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company cut their price target on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. National Bankshares lifted their price target on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Mizuho cut their price target on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, UBS Group dropped their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.88.

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.