Mitsubishi UFJ Trust & Banking Corp Sells 75,192 Shares of Ovintiv Inc. (NYSE:OVV)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Ovintiv Inc. (NYSE:OVVFree Report) by 17.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 364,296 shares of the company’s stock after selling 75,192 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.13% of Ovintiv worth $17,330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OVV. Quantbot Technologies LP bought a new stake in shares of Ovintiv in the 3rd quarter valued at $38,000. ICA Group Wealth Management LLC bought a new stake in shares of Ovintiv in the 4th quarter valued at $41,000. Harbour Investments Inc. increased its position in shares of Ovintiv by 124.6% in the 4th quarter. Harbour Investments Inc. now owns 923 shares of the company’s stock valued at $47,000 after buying an additional 512 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Ovintiv by 62.5% in the 1st quarter. Belpointe Asset Management LLC now owns 931 shares of the company’s stock valued at $34,000 after buying an additional 358 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Ovintiv in the 3rd quarter valued at $52,000. Institutional investors own 98.30% of the company’s stock.

Ovintiv Stock Performance

NYSE OVV opened at $42.59 on Tuesday. 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 stock has a fifty day simple moving average of $42.49 and a 200 day simple moving average of $45.41. Ovintiv Inc. has a twelve month low of $32.07 and a twelve month high of $51.60. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 4.23, a PEG ratio of 1.80 and a beta of 2.65.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OVV. JPMorgan Chase & Co. upgraded shares of Ovintiv from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $61.00 to $58.00 in a research report on Wednesday, December 6th. UBS Group cut their target price on shares of Ovintiv from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Scotiabank decreased their target price on Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Citigroup set a $52.00 price target on Ovintiv and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Morgan Stanley upped their target price on Ovintiv from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 17th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.38.

Read Our Latest Report on Ovintiv

Insiders Place Their Bets

In other Ovintiv news, EVP Meghan Nicole Eilers sold 7,000 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $41.37, for a total transaction of $289,590.00. Following the completion of the sale, the executive vice president now directly 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 accessible through this hyperlink. In other news, Director Steven W. Nance sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $43.78, for a total value of $569,140.00. Following the completion of the sale, the director now directly owns 24,193 shares in the company, valued at approximately $1,059,169.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Meghan Nicole Eilers sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $41.37, for a total value of $289,590.00. Following the completion of the sale, the executive vice president now 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 Company 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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