Entropy Technologies LP Sells 90,995 Shares of Ovintiv Inc. (NYSE:OVV)

Entropy Technologies LP lowered its position in Ovintiv Inc. (NYSE:OVV) by 60.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,462 shares of the company’s stock after selling 90,995 shares during the period. Entropy Technologies LP’s holdings in Ovintiv were worth $2,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Ovintiv by 102.2% in the fourth quarter. Empowered Funds LLC now owns 390,433 shares of the company’s stock worth $15,813,000 after purchasing an additional 197,381 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ovintiv in the 4th quarter worth about $108,000. Kingsview Wealth Management LLC increased its position in shares of Ovintiv by 13.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 227,638 shares of the company’s stock worth $9,219,000 after acquiring an additional 26,155 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ovintiv by 11.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,404 shares of the company’s stock valued at $691,000 after acquiring an additional 1,826 shares in the last quarter. Finally, abrdn plc purchased a new stake in shares of Ovintiv in the fourth quarter valued at approximately $346,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial raised their price objective on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Barclays lifted their price objective on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. 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. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.88.

Ovintiv Trading Up 0.4 %

Ovintiv stock opened at $42.53 on Monday. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The stock has a market cap of $11.07 billion, a PE ratio of 5.64 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. The stock has a 50-day moving average of $42.17 and a two-hundred day moving average of $42.11.

Ovintiv (NYSE:OVV) last released its earnings results on Thursday, November 7th. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.76. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the business earned $1.74 EPS. On average, research analysts anticipate that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

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.