Ovintiv Inc. $OVV Stock Holdings Increased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 19.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,750 shares of the company’s stock after buying an additional 13,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Ovintiv were worth $4,553,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in OVV. BlackRock Inc. acquired a new position in Ovintiv in the second quarter valued at about $1,422,959,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Ovintiv by 16.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,880,705 shares of the company’s stock worth $467,874,000 after acquiring an additional 1,137,162 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Ovintiv by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 2,945,692 shares of the company’s stock worth $174,856,000 after purchasing an additional 239,054 shares during the period. Van ECK Associates Corp raised its position in shares of Ovintiv by 119.7% during the second quarter. Van ECK Associates Corp now owns 1,717,400 shares of the company’s stock worth $90,421,000 after purchasing an additional 935,860 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Ovintiv by 42.5% during the second quarter. Wellington Management Group LLP now owns 1,577,210 shares of the company’s stock worth $83,040,000 after purchasing an additional 470,241 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Buying and Selling at Ovintiv

In other news, EVP Rachel Moore sold 7,753 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total transaction of $490,919.96. Following the completion of the transaction, the executive vice president directly owned 72,530 shares of the company’s stock, valued at $4,592,599.60. This trade represents a 9.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OVV has been the topic of several recent analyst reports. Stephens reiterated a “positive” rating on shares of Ovintiv in a report on Tuesday, October 27th. The Goldman Sachs Group lifted their price target on shares of Ovintiv from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. Truist Financial upped their price target on shares of Ovintiv from $73.00 to $77.00 and gave the company a “buy” rating in a report on Monday, October 12th. Scotiabank increased their price objective on shares of Ovintiv from $75.00 to $80.00 and gave the stock a “sector outperform” rating in a research report on Monday, October 19th. Finally, National Bank Financial increased their price objective on shares of Ovintiv from $94.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.32.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $72.61 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $20.00 billion, a price-to-earnings ratio of 20.51 and a beta of 0.57. The stock’s 50-day moving average is $64.99 and its 200-day moving average is $57.42. Ovintiv Inc. has a one year low of $35.47 and a one year high of $73.61.

Ovintiv Profile

Ovintiv Inc is an independent energy company engaged in the exploration, development, production and marketing of oil, condensate, natural gas liquids and natural gas. The company’s operations are focused on North America, with production and resource development activities in the United States and Canada.

Ovintiv’s U.S. operations include assets in the Permian Basin of Texas and New Mexico and the Uinta Basin of Utah. In Canada, the company’s portfolio includes the Montney and Horn River natural gas and liquids-rich plays in British Columbia and Alberta.