Amalgamated Bank Sells 33,496 Shares of Ovintiv Inc. (NYSE:OVV)

Amalgamated Bank lowered its stake in Ovintiv Inc. (NYSE:OVV) by 21.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 125,726 shares of the company’s stock after selling 33,496 shares during the quarter. Amalgamated Bank’s holdings in Ovintiv were worth $4,817,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ovintiv during the 1st quarter valued at $1,273,000. Janney Montgomery Scott LLC raised its stake in shares of Ovintiv by 17.9% during the first quarter. Janney Montgomery Scott LLC now owns 25,770 shares of the company’s stock valued at $1,337,000 after acquiring an additional 3,911 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Ovintiv by 7.5% during the first quarter. Daiwa Securities Group Inc. now owns 17,300 shares of the company’s stock worth $898,000 after purchasing an additional 1,200 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Ovintiv in the first quarter worth about $804,000. Finally, Geneos Wealth Management Inc. increased its holdings in Ovintiv by 53.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock valued at $45,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on OVV. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. UBS Group cut their price target on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Citigroup reduced their price objective on shares of Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Royal Bank of Canada cut their target price on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Finally, Mizuho decreased their price target on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Ovintiv Stock Performance

Shares of OVV stock opened at $41.52 on Friday. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 5.86, a price-to-earnings-growth ratio of 7.60 and a beta of 2.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The company’s 50-day moving average is $40.56 and its 200 day moving average is $44.93.

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.