Allianz Asset Management GmbH Acquires 114,534 Shares of Ovintiv Inc. (NYSE:OVV)

Allianz Asset Management GmbH boosted its holdings in Ovintiv Inc. (NYSE:OVV) by 14.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 890,036 shares of the company’s stock after acquiring an additional 114,534 shares during the quarter. Allianz Asset Management GmbH’s holdings in Ovintiv were worth $36,046,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in OVV. Pacer Advisors Inc. lifted its position in Ovintiv by 11,282.4% in the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after acquiring an additional 6,486,159 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after acquiring an additional 1,207,610 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Ovintiv by 1,807.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock valued at $32,070,000 after acquiring an additional 750,349 shares in the last quarter. Victory Capital Management Inc. lifted its position in Ovintiv by 42.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,174,397 shares of the company’s stock valued at $44,991,000 after acquiring an additional 350,909 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in Ovintiv by 2,105.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 333,150 shares of the company’s stock valued at $12,763,000 after acquiring an additional 318,041 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 4.9 %

Ovintiv stock opened at $43.33 on Monday. The firm has a 50 day simple moving average of $42.59 and a 200 day simple moving average of $42.12. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv Inc. has a 1-year low of $36.90 and a 1-year high of $55.95. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 5.75 and a beta of 2.60.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OVV. National Bankshares raised their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Barclays lifted their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. UBS Group dropped their target price on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Wells Fargo & Company dropped their target price on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Mizuho decreased their price target on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and an average target price of $56.88.

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.