Wilmington Savings Fund Society FSB Invests $108,000 in Ovintiv Inc. (NYSE:OVV)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,676 shares of the company’s stock, valued at approximately $108,000.

Several other hedge funds also recently bought and sold shares of OVV. Pacer Advisors Inc. boosted its stake in shares of Ovintiv by 11,282.4% during the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after purchasing an additional 6,486,159 shares during the period. Assenagon Asset Management S.A. boosted its position in Ovintiv by 7,422.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after buying an additional 1,340,947 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after acquiring an additional 1,207,610 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Ovintiv by 1,807.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock worth $32,070,000 after acquiring an additional 750,349 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Ovintiv by 42.6% during the third quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after acquiring an additional 350,909 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Up 1.3 %

Ovintiv stock opened at $43.29 on Friday. The stock has a market cap of $11.27 billion, a PE ratio of 5.74 and a beta of 2.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The stock has a 50-day moving average of $42.20 and a two-hundred day moving average of $42.07.

Analyst Ratings Changes

Several research firms have commented on OVV. Wells Fargo & Company reduced their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. UBS Group decreased their price objective on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. National Bankshares increased their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Citigroup cut their target price on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Truist Financial upped their price target on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ovintiv 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.