Lodestone Wealth Management LLC Grows Holdings in Ovintiv Inc. (NYSE:OVV)

Lodestone Wealth Management LLC boosted its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 44,944 shares of the company’s stock after purchasing an additional 1,799 shares during the period. Lodestone Wealth Management LLC’s holdings in Ovintiv were worth $1,722,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of Ovintiv during the second quarter worth about $39,000. Geneos Wealth Management Inc. raised its stake in Ovintiv by 53.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock valued at $45,000 after acquiring an additional 300 shares during the last quarter. UMB Bank n.a. lifted its position in Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after acquiring an additional 286 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Ovintiv during the second quarter worth approximately $69,000. Finally, Covestor Ltd raised its stake in shares of Ovintiv by 23.1% during the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock worth $81,000 after purchasing an additional 293 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Morgan Stanley lowered their target price on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. UBS Group dropped their price target on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Citigroup reduced their price objective on shares of Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 7th. Finally, Wolfe Research began coverage on Ovintiv in a research report on Thursday, July 18th. They set an “outperform” rating and a $65.00 target price on the stock. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Ovintiv Stock Down 0.6 %

Ovintiv stock opened at $38.96 on Friday. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 5.50, a price-to-earnings-growth ratio of 7.46 and a beta of 2.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. Ovintiv Inc. has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The stock’s fifty day moving average is $40.73 and its two-hundred day moving average is $45.17.

Ovintiv Company 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.