Krilogy Financial LLC Acquires New Holdings in Ovintiv Inc. $OVV

Krilogy Financial LLC bought a new stake in Ovintiv Inc. (NYSE:OVV) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,574 shares of the company’s stock, valued at approximately $467,000.

Several other large investors have also recently bought and sold shares of the stock. McIlrath & Eck LLC acquired a new stake in shares of Ovintiv in the 3rd quarter worth approximately $31,000. IFP Advisors Inc increased its stake in shares of Ovintiv by 316.7% during the second quarter. IFP Advisors Inc now owns 846 shares of the company’s stock valued at $32,000 after acquiring an additional 643 shares during the period. HM Payson & Co. bought a new stake in Ovintiv during the third quarter worth approximately $36,000. Quent Capital LLC acquired a new stake in Ovintiv in the third quarter worth approximately $37,000. Finally, MAI Capital Management lifted its position in Ovintiv by 174.6% in the second quarter. MAI Capital Management now owns 1,170 shares of the company’s stock worth $45,000 after purchasing an additional 744 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Insider Transactions at Ovintiv

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 105,867 shares in the company, valued at $4,269,616.11. This trade represents a 32.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

Ovintiv Stock Up 2.0%

Shares of Ovintiv stock opened at $46.89 on Friday. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $48.17. The firm has a market capitalization of $11.87 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 2.63 and a beta of 0.78. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $40.92 and its 200-day moving average is $40.18.

Analysts Set New Price Targets

OVV has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $55.00 price target on shares of Ovintiv in a research report on Thursday, January 29th. Stephens raised Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $54.00 price target on shares of Ovintiv in a research report on Saturday, January 17th. Evercore reissued an “outperform” rating and issued a $47.00 price target on shares of Ovintiv in a report on Thursday, November 6th. Finally, TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

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.