Sterling Capital Management LLC lessened its stake in Ovintiv Inc. (NYSE:OVV – Free Report) by 75.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,391 shares of the company’s stock after selling 39,049 shares during the period. Sterling Capital Management LLC’s holdings in Ovintiv were worth $716,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of OVV. Man Group plc acquired a new stake in Ovintiv in the second quarter worth approximately $936,000. Bank of America Corp DE acquired a new position in shares of Ovintiv during the 2nd quarter valued at $79,475,000. Corient Private Wealth LP acquired a new position in shares of Ovintiv during the 2nd quarter valued at $9,481,000. PensionDanmark Pensionsforsikringsaktieselskab acquired a new position in shares of Ovintiv during the 2nd quarter valued at $4,738,000. Finally, Core Capital Management & Research inc. bought a new stake in shares of Ovintiv in the 2nd quarter worth $4,716,000. Institutional investors and hedge funds own 83.81% of the company’s stock.
Ovintiv Stock Performance
Ovintiv stock opened at $71.10 on Wednesday. Ovintiv Inc. has a 1 year low of $35.47 and a 1 year high of $73.61. The firm’s 50 day moving average price is $64.62 and its two-hundred day moving average price is $56.93.
Insider Buying and Selling at Ovintiv
In other news, EVP Rachel Moore sold 7,753 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total transaction of $490,919.96. Following the sale, the executive vice president directly owned 72,530 shares of the company’s stock, valued at $4,592,599.60. The trade was a 9.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on OVV. Wall Street Zen upgraded Ovintiv from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. Seaport Research Partners began coverage on Ovintiv in a research note on Thursday, September 3rd. They set a “neutral” rating for the company. Scotia lifted their target price on Ovintiv from $70.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Friday, October 2nd. Citigroup boosted their price target on shares of Ovintiv from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus set a $92.00 price target on shares of Ovintiv and gave the company a “buy” rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.27.
Get Our Latest Stock Analysis on Ovintiv
Ovintiv Profile
Ovintiv Inc is an independent energy company engaged in the exploration, development, production and marketing of oil, condensate, natural gas liquids and natural gas. The company’s operations are focused on North America, with production and resource development activities in the United States and Canada.
Ovintiv’s U.S. operations include assets in the Permian Basin of Texas and New Mexico and the Uinta Basin of Utah. In Canada, the company’s portfolio includes the Montney and Horn River natural gas and liquids-rich plays in British Columbia and Alberta.
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