Impact Partnership Wealth LLC Decreases Position in Ovintiv Inc. $OVV

Impact Partnership Wealth LLC lessened its holdings in Ovintiv Inc. (NYSE:OVV) by 16.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,583 shares of the company’s stock after selling 1,441 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Ovintiv were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OVV. GAMMA Investing LLC boosted its position in Ovintiv by 72.1% in the 1st quarter. GAMMA Investing LLC now owns 5,551 shares of the company’s stock valued at $238,000 after buying an additional 2,326 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Ovintiv by 16.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,339 shares of the company’s stock valued at $271,000 after buying an additional 909 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Ovintiv by 3.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,554 shares of the company’s stock valued at $21,595,000 after buying an additional 15,738 shares during the period. DAVENPORT & Co LLC boosted its position in Ovintiv by 5.1% in the 1st quarter. DAVENPORT & Co LLC now owns 17,220 shares of the company’s stock valued at $737,000 after buying an additional 836 shares during the period. Finally, Miller Howard Investments Inc. NY lifted its position in shares of Ovintiv by 9.8% during the 1st quarter. Miller Howard Investments Inc. NY now owns 24,931 shares of the company’s stock worth $1,067,000 after purchasing an additional 2,230 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the subject of a number of analyst reports. National Bankshares lowered their target price on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Morgan Stanley lowered their target price on shares of Ovintiv from $48.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Monday, July 7th. Roth Capital initiated coverage on shares of Ovintiv in a research note on Monday, October 13th. They set a “neutral” rating and a $42.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Ovintiv in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.47.

Ovintiv Price Performance

Shares of OVV opened at $36.88 on Friday. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $47.18. The stock has a market cap of $9.48 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a fifty day moving average price of $40.05 and a 200 day moving average price of $38.80.

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.