QRG Capital Management Inc. Raises Position in Ovintiv Inc. (NYSE:OVV)

QRG Capital Management Inc. boosted its position in Ovintiv Inc. (NYSE:OVV) by 28.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,892 shares of the company’s stock after acquiring an additional 9,567 shares during the period. QRG Capital Management Inc.’s holdings in Ovintiv were worth $1,643,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in OVV. AQR Capital Management LLC raised its holdings in Ovintiv by 114.9% in the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock worth $141,889,000 after buying an additional 1,618,556 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Ovintiv by 7,422.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after buying an additional 1,340,947 shares during the period. Vanguard Group Inc. boosted its position in shares of Ovintiv by 3.8% in the first quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock worth $1,456,072,000 after purchasing an additional 1,024,931 shares during the period. SIR Capital Management L.P. bought a new position in shares of Ovintiv in the second quarter worth approximately $22,732,000. Finally, SG Americas Securities LLC boosted its position in shares of Ovintiv by 6,830.6% in the first quarter. SG Americas Securities LLC now owns 411,054 shares of the company’s stock worth $21,334,000 after purchasing an additional 405,123 shares during the period. Institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 1.1 %

Shares of Ovintiv stock opened at $41.52 on Friday. The firm’s 50 day moving average price is $40.56 and its 200-day moving average price is $44.93. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.47. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95. The company has a market cap of $10.94 billion, a P/E ratio of 5.87, a PEG ratio of 7.60 and a beta of 2.62.

Wall Street Analysts Forecast Growth

OVV has been the subject of a number of research reports. Royal Bank of Canada dropped their target price on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. UBS Group lowered their target price on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wolfe Research began coverage on shares of Ovintiv in a report on Thursday, July 18th. They set an “outperform” rating and a $65.00 price objective for the company. Evercore ISI decreased their price objective on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Finally, Scotiabank lifted their price objective on shares of Ovintiv from $58.00 to $60.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

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.