Deutsche Bank AG Takes $50.85 Million Position in Ovintiv Inc. $OVV

Deutsche Bank AG bought a new stake in Ovintiv Inc. (NYSE:OVV) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 965,842 shares of the company’s stock, valued at approximately $50,852,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OVV. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Ovintiv in the second quarter valued at $32,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Ovintiv during the second quarter worth about $214,000. Global Retirement Partners LLC acquired a new stake in shares of Ovintiv during the second quarter worth about $137,000. Bank of New York Mellon Corp purchased a new stake in shares of Ovintiv in the 2nd quarter valued at about $124,308,000. Finally, State of Wyoming purchased a new stake in shares of Ovintiv in the 2nd quarter valued at about $540,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays raised their price target on Ovintiv from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Citigroup boosted their price objective on Ovintiv from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wells Fargo & Company decreased their price objective on Ovintiv from $80.00 to $78.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Ovintiv from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, National Bank Financial lifted their target price on shares of Ovintiv from $82.00 to $83.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.89.

Ovintiv Stock Performance

Shares of OVV stock opened at $66.69 on Friday. The stock’s 50-day moving average price is $57.95 and its 200 day moving average price is $56.12. 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 stock has a market capitalization of $18.37 billion, a PE ratio of 18.84 and a beta of 0.53. Ovintiv Inc. has a 52-week low of $35.47 and a 52-week high of $67.39.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.20). Ovintiv had a return on equity of 14.84% and a net margin of 9.43%.The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.37 billion. As a group, equities research analysts forecast that Ovintiv Inc. will post 6.83 EPS for the current year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. Ovintiv’s dividend payout ratio (DPR) is currently 33.90%.

Insider Buying and Selling at Ovintiv

In related news, EVP Rachel Maureen Moore sold 7,753 shares of Ovintiv stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total value 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 trade represents a 9.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by corporate 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.