Summit Trail Advisors LLC Buys Shares of 5,073 Ovintiv Inc. (NYSE:OVV)

Summit Trail Advisors LLC purchased a new position in Ovintiv Inc. (NYSE:OVV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,073 shares of the company’s stock, valued at approximately $205,000.

Several other large investors have also recently made changes to their positions in OVV. True Wealth Design LLC grew 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 purchasing an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position 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 worth $29,000 after buying an additional 360 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new position in shares of Ovintiv during the 3rd quarter worth approximately $65,000. Covestor Ltd lifted its position in Ovintiv by 43.9% during the third 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 last quarter. Finally, Fifth Third Bancorp boosted its stake in Ovintiv by 13.4% in the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after acquiring an additional 282 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on OVV shares. National Bankshares upped their price target on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Citigroup reduced their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. UBS Group lowered their price target on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Truist Financial upped their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Mizuho lowered their target price on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.88.

Ovintiv Price Performance

Shares of OVV opened at $42.76 on Thursday. The business’s 50-day moving average is $42.19 and its two-hundred day moving average is $42.07. The company has a market capitalization of $11.13 billion, a P/E ratio of 5.67 and a beta of 2.60. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

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.