State of Alaska Department of Revenue Buys 3,260 Shares of Ovintiv Inc. (NYSE:OVV)

State of Alaska Department of Revenue increased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 30,670 shares of the company’s stock after acquiring an additional 3,260 shares during the period. State of Alaska Department of Revenue’s holdings in Ovintiv were worth $1,174,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of OVV. UMB Bank n.a. grew its stake in Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after buying an additional 286 shares during the last quarter. Covestor Ltd increased its stake in shares of Ovintiv by 23.1% in the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock valued at $81,000 after buying an additional 293 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Ovintiv by 53.4% in the first quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock valued at $45,000 after buying an additional 300 shares during the last quarter. Blue Trust Inc. grew its holdings in Ovintiv by 24.0% during the 2nd quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock worth $93,000 after acquiring an additional 347 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Ovintiv by 1.0% during the second quarter. Cetera Investment Advisers now owns 37,466 shares of the company’s stock worth $1,756,000 after purchasing an additional 353 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Trading Up 2.5 %

NYSE:OVV opened at $39.95 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.44 and a quick ratio of 0.44. The business’s 50-day simple moving average is $40.65 and its 200-day simple moving average is $45.04. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The stock has a market capitalization of $10.53 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 7.46 and a beta of 2.62.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OVV. Scotiabank boosted their price objective on shares of Ovintiv from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Truist Financial cut their price target on Ovintiv from $62.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their target price on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, Wolfe Research began coverage on shares of Ovintiv in a research report on Thursday, July 18th. They set an “outperform” rating and a $65.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

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.