Assenagon Asset Management S.A. Has $755,000 Stock Position in Ovintiv Inc. (NYSE:OVV)

Assenagon Asset Management S.A. lessened its stake in Ovintiv Inc. (NYSE:OVVFree Report) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,862 shares of the company’s stock after selling 556 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Ovintiv were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Xponance Inc. increased its holdings in shares of Ovintiv by 0.6% in the third quarter. Xponance Inc. now owns 41,823 shares of the company’s stock valued at $1,990,000 after purchasing an additional 240 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Ovintiv by 3.2% in the second quarter. US Bancorp DE now owns 9,332 shares of the company’s stock worth $355,000 after acquiring an additional 286 shares during the last quarter. Montgomery Investment Management Inc. lifted its holdings in shares of Ovintiv by 1.0% in the second quarter. Montgomery Investment Management Inc. now owns 30,294 shares of the company’s stock worth $1,153,000 after acquiring an additional 300 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Ovintiv by 1.7% in the third quarter. Signaturefd LLC now owns 19,093 shares of the company’s stock worth $908,000 after acquiring an additional 317 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its stake in shares of Ovintiv by 62.5% in the first quarter. Belpointe Asset Management LLC now owns 931 shares of the company’s stock valued at $34,000 after buying an additional 358 shares during the period. Institutional investors and hedge funds own 98.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on OVV. UBS Group decreased their target price on shares of Ovintiv from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Mizuho dropped their price objective on Ovintiv from $67.00 to $59.00 in a research note on Wednesday, January 3rd. Morgan Stanley raised their price objective on Ovintiv from $47.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 17th. Royal Bank of Canada raised their target price on Ovintiv from $47.00 to $50.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 10th. Finally, Scotiabank decreased their price objective on Ovintiv from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and an average price target of $53.38.

Read Our Latest Research Report on Ovintiv

Ovintiv Stock Performance

Shares of OVV opened at $41.63 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $42.65 and a two-hundred day simple moving average of $45.43. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 4.13, a PEG ratio of 1.80 and a beta of 2.65. Ovintiv Inc. has a 52 week low of $32.07 and a 52 week high of $51.60.

Ovintiv (NYSE:OVVGet Free Report) last released its earnings results on Tuesday, November 7th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.01). The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Ovintiv had a return on equity of 16.15% and a net margin of 23.46%. On average, analysts expect that Ovintiv Inc. will post 6.42 EPS for the current year.

Insider Transactions at Ovintiv

In other news, EVP Meghan Nicole Eilers sold 7,000 shares of Ovintiv stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $41.37, for a total value of $289,590.00. Following the completion of the transaction, the executive vice president now owns 20,441 shares in the company, valued at approximately $845,644.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ovintiv news, Director Steven W. Nance sold 13,000 shares of Ovintiv stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $43.78, for a total transaction of $569,140.00. Following the completion of the sale, the director now directly owns 24,193 shares of the company’s stock, valued at approximately $1,059,169.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Meghan Nicole Eilers sold 7,000 shares of Ovintiv stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $41.37, for a total value of $289,590.00. Following the sale, the executive vice president now directly owns 20,441 shares of the company’s stock, valued at $845,644.17. The disclosure for this sale can be found here. Company insiders own 0.91% of the company’s stock.

Ovintiv Profile

(Free Report)

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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