AustralianSuper Pty Ltd Grows Holdings in Ovintiv Inc. (NYSE:OVV)

AustralianSuper Pty Ltd raised its stake in Ovintiv Inc. (NYSE:OVV) by 18.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 196,368 shares of the company’s stock after acquiring an additional 29,961 shares during the period. AustralianSuper Pty Ltd’s holdings in Ovintiv were worth $7,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of Ovintiv by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company’s stock worth $2,647,000 after purchasing an additional 231 shares during the last quarter. Drive Wealth Management LLC increased its position 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 worth $395,000 after purchasing an additional 251 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Ovintiv by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock worth $304,000 after purchasing an additional 280 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after purchasing an additional 282 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in shares of Ovintiv by 5.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock worth $231,000 after purchasing an additional 298 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the subject of several research analyst reports. National Bankshares boosted their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company decreased 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. Mizuho decreased their price target on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Citigroup decreased their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, UBS Group decreased their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Four investment 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.88.

Ovintiv Trading Up 2.0 %

Ovintiv stock opened at $44.15 on Friday. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 5.86 and a beta of 2.60. The firm has a 50-day moving average price of $42.21 and a two-hundred day moving average price of $42.08. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

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.