TD Waterhouse Canada Inc. Increases Holdings in Ovintiv Inc. $OVV

TD Waterhouse Canada Inc. increased its position in Ovintiv Inc. (NYSE:OVV) by 204.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,799 shares of the company’s stock after purchasing an additional 50,263 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Ovintiv were worth $3,898,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Steph & Co. bought a new position in Ovintiv during the 1st quarter worth about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Ovintiv in the 2nd quarter valued at about $32,000. Aberdeen Wealth Management LLC purchased a new stake in shares of Ovintiv in the 2nd quarter worth approximately $32,000. Los Angeles Capital Management LLC purchased a new stake in shares of Ovintiv in the 4th quarter worth approximately $46,000. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Ovintiv by 27.6% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock valued at $52,000 after purchasing an additional 287 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Stock Down 0.0%

Ovintiv stock opened at $64.74 on Tuesday. Ovintiv Inc. has a 1-year low of $35.47 and a 1-year high of $67.51. The business has a fifty day moving average price of $60.77 and a 200-day moving average price of $57.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $17.84 billion, a price-to-earnings ratio of 18.29 and a beta of 0.53.

Ovintiv (NYSE:OVV) last announced its earnings results on Thursday, July 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.20). Ovintiv had a net margin of 9.43% and a return on equity of 14.84%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.37 billion. Equities research analysts forecast that Ovintiv Inc. will post 7.3 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. Ovintiv’s payout ratio is presently 33.90%.

Insider Activity

In other news, EVP Rachel Moore sold 7,753 shares of the company’s 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 owned 72,530 shares in the company, valued at $4,592,599.60. This represents a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on OVV shares. Morgan Stanley set a $67.00 price objective on shares of Ovintiv in a report on Wednesday, August 19th. Royal Bank Of Canada increased their target price on Ovintiv from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Weiss Ratings upgraded Ovintiv from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Texas Capital raised Ovintiv to a “strong-buy” rating in a research report on Thursday, June 25th. Finally, Mizuho upped their price objective on Ovintiv from $69.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.95.

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.