Raymond James & Associates grew its holdings in Ovintiv Inc. (NYSE:OVV – Free Report) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,518 shares of the company’s stock after purchasing an additional 2,275 shares during the period. Raymond James & Associates owned about 0.07% of Ovintiv worth $7,529,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. boosted its stake in shares of Ovintiv by 120.2% in the 3rd quarter. Blue Trust Inc. now owns 3,949 shares of the company’s stock worth $151,000 after buying an additional 2,156 shares during the last quarter. Creative Planning boosted its stake in shares of Ovintiv by 3.8% in the 3rd quarter. Creative Planning now owns 33,244 shares of the company’s stock worth $1,274,000 after buying an additional 1,203 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Ovintiv by 3.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 555,472 shares of the company’s stock worth $21,280,000 after buying an additional 20,168 shares during the last quarter. Foundation Resource Management Inc. boosted its stake in shares of Ovintiv by 1.4% in the 3rd quarter. Foundation Resource Management Inc. now owns 88,462 shares of the company’s stock worth $3,389,000 after buying an additional 1,216 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Ovintiv by 29.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,606 shares of the company’s stock worth $253,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.
Ovintiv Price Performance
NYSE:OVV opened at $39.28 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $40.89 and its two-hundred day simple moving average is $45.35. The stock has a market cap of $10.35 billion, a PE ratio of 5.49, a P/E/G ratio of 7.81 and a beta of 2.61. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Scotiabank raised their price target on Ovintiv from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 12th. Truist Financial dropped their price target on Ovintiv from $62.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company dropped their price target on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Citigroup lowered their target price on Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Finally, Morgan Stanley lowered their target price on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ovintiv has an average rating of “Moderate Buy” and an average price target of $57.00.
View Our Latest Report on Ovintiv
About Ovintiv
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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