Y Intercept Hong Kong Ltd Decreases Stake in Ovintiv Inc. (NYSE:OVV)

Y Intercept Hong Kong Ltd reduced its position in Ovintiv Inc. (NYSE:OVV) by 38.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,035 shares of the company’s stock after selling 22,821 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Ovintiv were worth $1,500,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its position in Ovintiv by 17.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after purchasing an additional 1,207,610 shares during the period. Pacer Advisors Inc. raised its position in Ovintiv by 11,282.4% during the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after purchasing an additional 6,486,159 shares during the period. Smead Capital Management Inc. raised its position in Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after purchasing an additional 212,535 shares during the period. Geode Capital Management LLC raised its position in Ovintiv by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock valued at $173,296,000 after purchasing an additional 205,409 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Ovintiv by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,627 shares of the company’s stock valued at $71,587,000 after purchasing an additional 133,192 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Stock Down 2.9 %

Ovintiv stock opened at $42.26 on Wednesday. The business has a fifty day moving average of $42.73 and a two-hundred day moving average of $42.13. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.00 billion, a P/E ratio of 5.60 and a beta of 2.60. Ovintiv Inc. has a twelve month low of $36.90 and a twelve month high of $55.95.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. National Bankshares upped their target price on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Truist Financial upped their target price on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Mizuho cut their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.88.

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.