Lodestone Wealth Management LLC Sells 21,971 Shares of Ovintiv Inc. (NYSE:OVV)

Lodestone Wealth Management LLC lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 48.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,973 shares of the company’s stock after selling 21,971 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Ovintiv were worth $930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates grew its stake in shares of Ovintiv by 1.2% during the third quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock worth $7,529,000 after buying an additional 2,275 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Ovintiv by 16.0% during the third quarter. Franklin Resources Inc. now owns 270,968 shares of the company’s stock worth $11,527,000 after purchasing an additional 37,341 shares during the period. Smead Capital Management Inc. lifted its holdings in shares of Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock worth $241,476,000 after purchasing an additional 212,535 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Ovintiv by 4.4% during the third quarter. Retirement Systems of Alabama now owns 320,759 shares of the company’s stock worth $12,288,000 after purchasing an additional 13,536 shares during the period. Finally, Entropy Technologies LP lifted its holdings in shares of Ovintiv by 319.9% during the third quarter. Entropy Technologies LP now owns 149,457 shares of the company’s stock worth $5,726,000 after purchasing an additional 113,866 shares during the period. Institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of NYSE OVV opened at $44.15 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $42.21 and its 200-day moving average price is $42.08. The firm has a market capitalization of $11.49 billion, a P/E ratio of 5.86 and a beta of 2.60. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OVV shares. Scotiabank lifted 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. Barclays boosted their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. National Bankshares boosted their target price on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. UBS Group dropped their target price on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Finally, Citigroup dropped their target price on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.88.

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.