River Road Asset Management LLC Sells 1,171 Shares of Ovintiv Inc. (NYSE:OVV)

River Road Asset Management LLC lowered its position in shares of Ovintiv Inc. (NYSE:OVV) by 0.4% during the third quarter, HoldingsChannel.com reports. The fund owned 316,954 shares of the company’s stock after selling 1,171 shares during the quarter. River Road Asset Management LLC’s holdings in Ovintiv were worth $12,143,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of OVV. Mirae Asset Global Investments Co. Ltd. bought a new stake in Ovintiv during the first quarter valued at $1,273,000. Janney Montgomery Scott LLC boosted its position in Ovintiv by 17.9% during the first quarter. Janney Montgomery Scott LLC now owns 25,770 shares of the company’s stock valued at $1,337,000 after acquiring an additional 3,911 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in Ovintiv during the first quarter valued at $295,000. Daiwa Securities Group Inc. boosted its position in shares of Ovintiv by 7.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 17,300 shares of the company’s stock worth $898,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Ovintiv during the 1st quarter worth about $6,334,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OVV shares. Royal Bank of Canada cut their price objective on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Scotiabank increased their price objective on shares of Ovintiv from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Mizuho cut their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Wolfe Research started coverage on shares of Ovintiv in a research report on Thursday, July 18th. They set an “outperform” rating and a $65.00 price objective on the stock. Finally, Wells Fargo & Company cut 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. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Ovintiv Trading Up 0.0 %

NYSE:OVV opened at $39.96 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 5.64, a price-to-earnings-growth ratio of 7.42 and a beta of 2.62. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The firm has a 50-day moving average price of $40.58 and a two-hundred day moving average price of $44.95.

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.