5,285 Shares in Ovintiv Inc. (NYSE:OVV) Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC acquired a new position in shares of Ovintiv Inc. (NYSE:OVV) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,285 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors also recently bought and sold shares of OVV. True Wealth Design LLC raised its stake in shares of 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 during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after acquiring an additional 360 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in Ovintiv during the third quarter worth about $65,000. Covestor Ltd lifted its holdings in shares of Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after purchasing an additional 560 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Ovintiv by 13.4% in the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after purchasing an additional 282 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Stock Performance

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

Analyst Ratings Changes

Several brokerages recently issued reports on OVV. Wells Fargo & Company cut their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Truist Financial boosted their price target on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group reduced their price objective on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Citigroup dropped their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Mizuho reduced their target price on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. 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’s stock. Based on data from MarketBeat.com, the stock 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.