Ovintiv Inc. (NYSE:OVV) Shares Sold by Entropy Technologies LP

Entropy Technologies LP lowered its holdings in Ovintiv Inc. (NYSE:OVV) by 60.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,462 shares of the company’s stock after selling 90,995 shares during the quarter. Entropy Technologies LP’s holdings in Ovintiv were worth $2,368,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OVV. Cetera Investment Advisers grew its position in Ovintiv by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 37,466 shares of the company’s stock worth $1,756,000 after purchasing an additional 353 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Ovintiv in the second quarter worth about $302,000. CWM LLC grew its holdings in Ovintiv by 6.0% during the third quarter. CWM LLC now owns 13,531 shares of the company’s stock worth $518,000 after acquiring an additional 769 shares during the period. UMB Bank n.a. raised its position in Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after acquiring an additional 286 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Ovintiv by 29.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,606 shares of the company’s stock valued at $253,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OVV. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. National Bankshares lifted their price objective on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Truist Financial increased their target price on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company cut their price target on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and a consensus price target of $56.88.

Ovintiv Stock Performance

NYSE:OVV opened at $42.53 on Monday. The company has a market cap of $11.07 billion, a P/E ratio of 5.64 and a beta of 2.60. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95. The company’s 50-day moving average price is $42.17 and its 200-day moving average price is $42.11. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46.

Ovintiv (NYSE:OVV) last released its earnings results on Thursday, November 7th. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.76. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. During the same period last year, the company posted $1.74 EPS. On average, sell-side analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv 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.