DekaBank Deutsche Girozentrale Has $1.20 Million Stock Holdings in Ovintiv Inc. $OVV

DekaBank Deutsche Girozentrale lifted its stake in shares of Ovintiv Inc. (NYSE:OVV) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 31,213 shares of the company’s stock after buying an additional 695 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Ovintiv were worth $1,201,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc raised its stake in Ovintiv by 316.7% in the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company’s stock worth $32,000 after purchasing an additional 643 shares in the last quarter. Dogwood Wealth Management LLC acquired a new stake in shares of Ovintiv during the 2nd quarter worth $35,000. Harbour Investments Inc. grew its holdings in shares of Ovintiv by 143.8% during the 1st quarter. Harbour Investments Inc. now owns 919 shares of the company’s stock worth $39,000 after purchasing an additional 542 shares in the last quarter. Gen Wealth Partners Inc grew its holdings in shares of Ovintiv by 91.8% during the 1st quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company’s stock worth $43,000 after purchasing an additional 484 shares in the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Ovintiv during the 1st quarter worth $48,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

OVV has been the subject of several analyst reports. National Bankshares dropped their target price on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. Zacks Research cut shares of Ovintiv from a “hold” rating to a “strong sell” rating in a research report on Friday, September 26th. Roth Capital initiated coverage on shares of Ovintiv in a research report on Monday, October 13th. They issued a “neutral” rating and a $42.00 target price for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Ovintiv in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ovintiv from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.47.

Ovintiv Trading Down 0.7%

Shares of NYSE OVV opened at $37.73 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.43. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $47.18. The firm has a 50 day moving average price of $40.21 and a two-hundred day moving average price of $38.75. The stock has a market cap of $9.70 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.92 billion. As a group, equities analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current year.

Ovintiv 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.