Miller Howard Investments Inc. NY Sells 2,923 Shares of Ovintiv Inc. (NYSE:OVV)

Miller Howard Investments Inc. NY cut its stake in Ovintiv Inc. (NYSE:OVV) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,701 shares of the company’s stock after selling 2,923 shares during the period. Miller Howard Investments Inc. NY’s holdings in Ovintiv were worth $919,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of OVV. True Wealth Design LLC increased its stake in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after acquiring an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after purchasing an additional 360 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of 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 buying an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new stake in shares of Ovintiv during the 3rd quarter worth $65,000. Finally, Covestor Ltd boosted its stake in Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after buying an additional 560 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors.

Ovintiv Stock Up 0.4 %

Shares of NYSE OVV opened at $42.53 on Monday. The company’s 50 day moving average price is $42.17 and its 200-day moving average price is $42.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The company has a market capitalization of $11.07 billion, a P/E ratio of 5.64 and a beta of 2.60.

Ovintiv (NYSE:OVV) last released its earnings results on Thursday, November 7th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.76. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business earned $1.74 earnings per share. Equities analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OVV shares. UBS Group lowered their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Truist Financial upped their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Scotiabank raised their target price on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research report on Monday, November 18th. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their price objective on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.88.

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.