Ovintiv Inc. (NYSE:OVV) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its holdings in Ovintiv Inc. (NYSE:OVV) by 38.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,035 shares of the company’s stock after selling 22,821 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Ovintiv were worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. True Wealth Design LLC increased its stake in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after buying an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Ovintiv by 100.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in Ovintiv during the third quarter worth $65,000. Covestor Ltd lifted its stake in Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after purchasing an additional 560 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock worth $97,000 after acquiring an additional 282 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of OVV opened at $42.26 on Wednesday. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 5.60 and a beta of 2.60. The firm has a 50-day simple moving average of $42.73 and a 200-day simple moving average of $42.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OVV shares. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Mizuho dropped their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. National Bankshares raised their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Scotiabank raised their price objective on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.88.

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.