GSA Capital Partners LLP Boosts Holdings in Ovintiv Inc. $OVV

GSA Capital Partners LLP boosted its stake in Ovintiv Inc. (NYSE:OVV) by 100.0% in the third quarter, Holdings Channel.com reports. The fund owned 40,768 shares of the company’s stock after buying an additional 20,389 shares during the quarter. GSA Capital Partners LLP’s holdings in Ovintiv were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in OVV. Integrated Wealth Concepts LLC boosted its holdings in shares of Ovintiv by 70.9% in the first quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock valued at $391,000 after acquiring an additional 3,788 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Ovintiv during the first quarter worth about $202,000. Focus Partners Wealth increased its position in Ovintiv by 49.3% in the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock valued at $825,000 after acquiring an additional 6,364 shares during the period. Geneos Wealth Management Inc. raised its stake in Ovintiv by 47.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company’s stock valued at $78,000 after acquiring an additional 589 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in Ovintiv by 316.7% during the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company’s stock worth $32,000 after acquiring an additional 643 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Down 1.9%

Ovintiv stock opened at $46.03 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 50.58, a price-to-earnings-growth ratio of 2.63 and a beta of 0.78. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $48.17. The stock’s fifty day moving average is $41.11 and its two-hundred day moving average is $40.25.

Insider Buying and Selling

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.33, for a total value of $2,016,500.00. Following the sale, the chief operating officer owned 105,867 shares of the company’s stock, valued at $4,269,616.11. This represents a 32.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on OVV. Wells Fargo & Company upped their price target on Ovintiv from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 18th. William Blair began coverage on shares of Ovintiv in a research report on Wednesday, November 26th. They set an “outperform” rating and a $50.00 price objective for the company. National Bank Financial raised their target price on shares of Ovintiv from $54.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $55.00 price target on shares of Ovintiv in a research note on Thursday, January 29th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $54.00 price objective on shares of Ovintiv in a research report on Saturday, January 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.06.

About Ovintiv

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.