Rhumbline Advisers Has $27.65 Million Holdings in Ovintiv Inc. $OVV

Rhumbline Advisers decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 684,814 shares of the company’s stock after selling 11,025 shares during the quarter. Rhumbline Advisers owned about 0.27% of Ovintiv worth $27,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its stake in Ovintiv by 70.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock valued at $391,000 after purchasing an additional 3,788 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Ovintiv during the first quarter worth about $202,000. Focus Partners Wealth raised its holdings in shares of Ovintiv by 49.3% in the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock worth $825,000 after acquiring an additional 6,364 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Ovintiv by 47.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company’s stock worth $78,000 after acquiring an additional 589 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in Ovintiv by 316.7% in the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company’s stock valued at $32,000 after acquiring an additional 643 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OVV. National Bank Financial increased their price objective on Ovintiv from $54.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a research report on Monday, December 29th. Stephens upgraded Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $55.00 target price on shares of Ovintiv in a research note on Thursday, January 29th. Finally, UBS Group reissued a “buy” rating on shares of Ovintiv in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Buying and Selling at Ovintiv

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the sale, the chief operating officer owned 105,867 shares of the company’s stock, valued at $4,269,616.11. The trade was a 32.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.89% of the stock is owned by insiders.

Ovintiv Trading Up 2.0%

NYSE OVV opened at $46.89 on Monday. The business’s fifty day moving average is $40.92 and its 200-day moving average is $40.16. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.45 and a quick ratio of 0.45. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of 51.52, a PEG ratio of 2.63 and a beta of 0.78. Ovintiv Inc. has a one year low of $29.80 and a one year high of $48.17.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.