Paradigm Asset Management Co. LLC Buys Shares of 4,200 Ovintiv Inc. (NYSE:OVV)

Paradigm Asset Management Co. LLC purchased a new position in shares of Ovintiv Inc. (NYSE:OVV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,200 shares of the company’s stock, valued at approximately $170,000.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC increased its stake in Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after acquiring an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after purchasing an additional 360 shares during the period. Transamerica Financial Advisors Inc. acquired a new stake in shares of Ovintiv during the 3rd quarter worth about $65,000. Covestor Ltd increased its position in shares of Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock worth $70,000 after purchasing an additional 560 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Ovintiv by 13.4% in the 4th quarter. Fifth Third Bancorp now owns 2,385 shares of the company’s stock valued at $97,000 after buying an additional 282 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OVV shares. Mizuho dropped their price target on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and dropped their target price for the company from $55.00 to $54.00 in a report on Monday, January 13th. National Bankshares upped their price target on Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Scotiabank raised their price target on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Finally, Barclays boosted their price objective on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.88.

Ovintiv Trading Down 4.9 %

Shares of NYSE:OVV opened at $43.33 on Friday. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company’s 50 day moving average is $42.59 and its two-hundred day moving average is $42.10. The company has a market cap of $11.28 billion, a PE ratio of 5.75 and a beta of 2.60. 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 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.