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

TD Waterhouse Canada Inc. increased its holdings in Ovintiv Inc. (NYSE:OVV) by 204.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,799 shares of the company’s stock after purchasing an additional 50,263 shares during the period. TD Waterhouse Canada Inc.’s holdings in Ovintiv were worth $3,898,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Integrated Wealth Concepts LLC grew its stake in shares of Ovintiv by 70.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock worth $391,000 after buying an additional 3,788 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Ovintiv during the 1st quarter valued at about $202,000. Focus Partners Wealth lifted its holdings in shares of Ovintiv by 49.3% in the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock valued at $825,000 after acquiring an additional 6,364 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Ovintiv by 47.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company’s stock valued at $78,000 after acquiring an additional 589 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Ovintiv by 103.2% in the second quarter. EverSource Wealth Advisors LLC now owns 3,298 shares of the company’s stock worth $126,000 after acquiring an additional 1,675 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OVV. Royal Bank Of Canada boosted their price objective on Ovintiv from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Morgan Stanley set a $67.00 target price on Ovintiv in a report on Wednesday, August 19th. Scotiabank raised Ovintiv from an “outperform” rating to a “buy” rating in a research report on Wednesday, May 20th. Texas Capital upgraded Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Wall Street Zen upgraded Ovintiv from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Insider Transactions at Ovintiv

In other Ovintiv news, EVP Rachel Moore sold 7,753 shares of the company’s stock in a transaction on 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 of the company’s stock, 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 SEC, which is available through this hyperlink. 0.85% of the stock is currently owned by insiders.

Ovintiv Stock Down 0.0%

Shares of NYSE OVV opened at $64.74 on Tuesday. 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 company has a market cap of $17.84 billion, a P/E ratio of 18.29 and a beta of 0.53. Ovintiv Inc. has a 1 year low of $35.47 and a 1 year high of $67.51. The firm has a 50-day simple moving average of $60.77 and a two-hundred day simple moving average of $57.78.

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). The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Ovintiv had a net margin of 9.43% and a return on equity of 14.84%. Research analysts anticipate that Ovintiv Inc. will post 7.3 earnings per share for the current year.

Ovintiv Dividend Announcement

The firm also recently disclosed 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 is Tuesday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.9%. Ovintiv’s payout ratio is presently 33.90%.

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.