29,801 Ovintiv Inc. $OVV Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its Ovintiv stake by 66.7% in the third quarter, selling 29,801 shares and retaining 14,891 shares valued at approximately $861,000.
• Institutional ownership remains high at 83.81%, with major investors including BlackRock, Arrowstreet Capital, Bank of New York Mellon, VanECK Associates and First Trust increasing their positions.
• Analysts remain broadly bullish, with Ovintiv receiving a consensus “Moderate Buy” rating and a $71.45 average price target; shares recently traded at $72.52, near the 52-week high of $73.62.

Crossmark Global Holdings Inc. lessened its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 66.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,891 shares of the company's stock after selling 29,801 shares during the period. Crossmark Global Holdings Inc.'s holdings in Ovintiv were worth $861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Ovintiv during the 2nd quarter valued at about $1,422,959,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ovintiv by 16.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,880,705 shares of the company's stock worth $467,874,000 after buying an additional 1,137,162 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Ovintiv by 8.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,945,692 shares of the company's stock worth $174,856,000 after acquiring an additional 239,054 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Ovintiv by 119.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,717,400 shares of the company's stock worth $90,421,000 after acquiring an additional 935,860 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Ovintiv by 74.2% during the 1st quarter. First Trust Advisors LP now owns 1,481,562 shares of the company's stock worth $87,946,000 after acquiring an additional 631,262 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company's stock.

Insiders Place Their Bets

In other Ovintiv news, EVP Rachel Moore sold 7,753 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total transaction of $490,919.96. Following the transaction, the executive vice president directly owned 72,530 shares in the company, valued at $4,592,599.60. This represents a 9.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded Ovintiv from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 2nd. National Bank Financial increased their target price on Ovintiv from $91.00 to $94.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 20th. UBS Group reiterated a "buy" rating and issued a $85.00 target price on shares of Ovintiv in a research note on Monday, September 14th. Stifel Nicolaus set a $92.00 target price on Ovintiv and gave the stock a "buy" rating in a research report on Wednesday, September 9th. Finally, Citigroup boosted their target price on shares of Ovintiv from $66.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ovintiv currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.45.

Ovintiv Trading Up 0.3%

Shares of NYSE OVV opened at $72.52 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $64.29 and a two-hundred day simple moving average of $56.58. The firm has a market cap of $19.98 billion, a PE ratio of 11.73 and a beta of 0.65. Ovintiv Inc. has a twelve month low of $35.47 and a twelve month high of $73.62.

Ovintiv Profile

Ovintiv Inc is an independent energy company engaged in the exploration, development, production and marketing of oil, condensate, natural gas liquids and natural gas. The company's operations are focused on North America, with production and resource development activities in the United States and Canada.

Ovintiv's U.S. operations include assets in the Permian Basin of Texas and New Mexico and the Uinta Basin of Utah. In Canada, the company's portfolio includes the Montney and Horn River natural gas and liquids-rich plays in British Columbia and Alberta.

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