AustralianSuper Pty Ltd grew its holdings in Ovintiv Inc. (NYSE:OVV - Free Report) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,368 shares of the company's stock after purchasing an additional 29,961 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.08% of Ovintiv worth $7,953,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates boosted its position in Ovintiv by 1.2% during the third quarter. Raymond James & Associates now owns 196,518 shares of the company's stock worth $7,529,000 after acquiring an additional 2,275 shares during the last quarter. Franklin Resources Inc. boosted its position in Ovintiv by 16.0% during the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company's stock worth $11,527,000 after acquiring an additional 37,341 shares during the last quarter. Smead Capital Management Inc. boosted its position in Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company's stock worth $241,476,000 after acquiring an additional 212,535 shares during the last quarter. Retirement Systems of Alabama boosted its position in Ovintiv by 4.4% during the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company's stock worth $12,288,000 after acquiring an additional 13,536 shares during the last quarter. Finally, Entropy Technologies LP boosted its position in Ovintiv by 319.9% during the third quarter. Entropy Technologies LP now owns 149,457 shares of the company's stock worth $5,726,000 after acquiring an additional 113,866 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.
A number of analysts recently issued reports on OVV shares. Bank of America upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $55.00 to $54.00 in a research 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 report on Thursday, January 30th. Barclays lifted 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. Truist Financial lifted their price target on shares of Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Mizuho decreased their price target on shares of Ovintiv from $63.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.88.
View Our Latest Research Report on Ovintiv
Ovintiv stock opened at $44.15 on Friday. 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 firm's fifty day moving average price is $42.21 and its 200 day moving average price is $42.08.
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.
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