Savant Capital LLC Invests $1.73 Million in Ovintiv Inc. (NYSE:OVV)

Savant Capital LLC acquired a new position in Ovintiv Inc. (NYSE:OVV) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 42,641 shares of the company’s stock, valued at approximately $1,727,000.

A number of other hedge funds have also recently made changes to their positions in OVV. Raymond James & Associates lifted its position in shares of Ovintiv by 1.2% in the third quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock worth $7,529,000 after buying an additional 2,275 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Ovintiv by 16.0% in the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock worth $11,527,000 after buying an additional 37,341 shares in the last quarter. Smead Capital Management Inc. lifted its position in shares of Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock worth $241,476,000 after buying an additional 212,535 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Ovintiv by 4.4% in the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock worth $12,288,000 after buying an additional 13,536 shares in the last quarter. Finally, Entropy Technologies LP lifted its position in shares of Ovintiv by 319.9% in the third quarter. Entropy Technologies LP now owns 149,457 shares of the company’s stock worth $5,726,000 after buying an additional 113,866 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OVV. UBS Group decreased their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Truist Financial boosted their target price on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Scotiabank upped their price objective on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research report on Monday, November 18th. Citigroup decreased their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, National Bankshares upped their price objective on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. 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 stock. Based on data from MarketBeat.com, Ovintiv presently has a consensus rating of “Moderate Buy” and an average target price of $56.88.

Ovintiv Trading Up 1.3 %

OVV opened at $43.29 on Friday. The stock’s fifty day moving average is $42.20 and its two-hundred day moving average is $42.07. The company has a market capitalization of $11.27 billion, a P/E ratio of 5.74 and a beta of 2.60. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. 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.