Deutsche Bank AG Acquires New Holdings in Ovintiv Inc. $OVV

Deutsche Bank AG bought a new stake in Ovintiv Inc. (NYSE:OVV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 965,842 shares of the company’s stock, valued at approximately $50,852,000. Deutsche Bank AG owned about 0.35% of Ovintiv at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in OVV. Stifel Financial Corp lifted its holdings in shares of Ovintiv by 1.4% in the 4th quarter. Stifel Financial Corp now owns 19,113 shares of the company’s stock worth $749,000 after acquiring an additional 269 shares during the last quarter. CX Institutional increased its holdings in Ovintiv by 1.0% in the 2nd quarter. CX Institutional now owns 28,363 shares of the company’s stock valued at $1,493,000 after purchasing an additional 276 shares during the last quarter. Root Financial Partners LLC raised its position in Ovintiv by 43.2% in the first quarter. Root Financial Partners LLC now owns 918 shares of the company’s stock valued at $54,000 after purchasing an additional 277 shares during the period. Deseret Mutual Benefit Administrators raised its position in Ovintiv by 27.6% in 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 during the period. Finally, Sanctuary Advisors LLC lifted its stake in Ovintiv by 2.6% during the first quarter. Sanctuary Advisors LLC now owns 13,020 shares of the company’s stock worth $773,000 after purchasing an additional 324 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Price Performance

Shares of OVV opened at $66.69 on Friday. Ovintiv Inc. has a twelve month low of $35.47 and a twelve month high of $67.39. The firm’s fifty day simple moving average is $57.95 and its 200-day simple moving average is $56.12. The firm has a market capitalization of $18.37 billion, a price-to-earnings ratio of 18.84 and a beta of 0.53. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32.

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

Ovintiv Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings upgraded Ovintiv from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Barclays increased their target price on Ovintiv from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Stephens restated a “positive” rating and set a $69.00 target price on shares of Ovintiv in a report on Friday, July 24th. Roth Capital lifted their target price on Ovintiv from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Finally, Citigroup boosted their price target on shares of Ovintiv from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. One investment 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.89.

Insider Activity

In other news, EVP Rachel Maureen Moore sold 7,753 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total value of $490,919.96. Following the transaction, the executive vice president owned 72,530 shares in the company, valued at approximately $4,592,599.60. This represents a 9.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.85% of the company’s stock.

Ovintiv 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.