Kingsview Wealth Management LLC Has $9.22 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Kingsview Wealth Management LLC boosted its stake in Ovintiv Inc. (NYSE:OVV) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 227,638 shares of the company’s stock after purchasing an additional 26,155 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Ovintiv were worth $9,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC lifted its stake in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after buying an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after buying an additional 360 shares during the last quarter. UMB Bank n.a. grew its position in shares of Ovintiv by 27.7% in the 3rd 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 during the period. Transamerica Financial Advisors Inc. acquired a new position in Ovintiv during the third quarter worth approximately $65,000. Finally, Covestor Ltd raised its stake in Ovintiv by 43.9% in the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after acquiring an additional 560 shares during the period. 83.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on OVV. UBS Group decreased their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Barclays raised their price objective on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Scotiabank upped their price target on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a report on Monday, November 18th. Finally, National Bankshares raised their price objective on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.88.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $42.53 on Friday. The business has a 50-day simple moving average of $42.23 and a 200 day simple moving average of $42.17. Ovintiv Inc. has a one year low of $36.90 and a one year high of $55.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 5.64 and a beta of 2.60.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.09 by $0.76. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company posted $1.74 earnings per share. On average, research analysts anticipate 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.