Ovintiv Inc. $OVV Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP lifted its position in Ovintiv Inc. (NYSE:OVV) by 100.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,768 shares of the company’s stock after acquiring an additional 20,389 shares during the period. GSA Capital Partners LLP’s holdings in Ovintiv were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Ovintiv by 2.3% during the third quarter. PNC Financial Services Group Inc. now owns 14,834 shares of the company’s stock worth $599,000 after buying an additional 340 shares in the last quarter. KLP Kapitalforvaltning AS lifted its stake in Ovintiv by 0.6% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 63,400 shares of the company’s stock worth $2,560,000 after purchasing an additional 400 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Ovintiv by 3.8% in the second quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $438,000 after purchasing an additional 427 shares in the last quarter. Forum Financial Management LP grew its position in shares of Ovintiv by 5.2% in the third quarter. Forum Financial Management LP now owns 9,402 shares of the company’s stock valued at $380,000 after purchasing an additional 464 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Ovintiv by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 21,141 shares of the company’s stock worth $804,000 after buying an additional 468 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OVV has been the subject of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of Ovintiv in a research note on Thursday, January 22nd. Evercore restated an “outperform” rating and set a $47.00 price target on shares of Ovintiv in a report on Thursday, November 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $54.00 price objective on shares of Ovintiv in a report on Saturday, January 17th. William Blair initiated coverage on Ovintiv in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, Stephens upgraded Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and an average target price of $51.06.

Ovintiv Price Performance

Ovintiv stock opened at $46.03 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.43. Ovintiv Inc. has a 52-week low of $29.80 and a 52-week high of $48.17. The firm has a market cap of $11.66 billion, a PE ratio of 50.58, a price-to-earnings-growth ratio of 2.63 and a beta of 0.78. The company’s 50 day moving average is $41.11 and its two-hundred day moving average is $40.25.

Insiders Place Their Bets

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.33, for a total value of $2,016,500.00. Following the sale, the chief operating officer directly owned 105,867 shares of the company’s stock, valued at approximately $4,269,616.11. This represents a 32.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.89% of the stock is currently owned by company insiders.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.