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

Miller Howard Investments Inc. NY lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 11.4% during the fourth quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its stake in Ovintiv by 17.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after buying an additional 1,207,610 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Ovintiv by 11,282.4% during the third 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. Smead Capital Management Inc. raised its position in shares of Ovintiv by 3.5% during the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock worth $241,476,000 after purchasing an additional 212,535 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Ovintiv by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock worth $173,296,000 after purchasing an additional 205,409 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Ovintiv by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,868,627 shares of the company’s stock valued at $71,587,000 after purchasing an additional 133,192 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OVV has been the topic of several research reports. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Truist Financial raised their price target on shares of Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Mizuho decreased their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Citigroup lowered their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company decreased their price target on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and a consensus target price of $56.88.

Ovintiv Stock Performance

Shares of OVV stock opened at $42.53 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $11.07 billion, a price-to-earnings ratio of 5.64 and a beta of 2.60. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The firm’s 50-day simple moving average is $42.17 and its two-hundred day simple moving average is $42.11.

Ovintiv (NYSE:OVV) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.76. Ovintiv had a net margin of 20.15% and a return on equity of 17.87%. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. As a group, equities analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current year.

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.