Ovintiv Inc. (NYSE:OVV) Stock Holdings Lessened by Toronto Dominion Bank

Toronto Dominion Bank lowered its stake in Ovintiv Inc. (NYSE:OVV) by 84.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,167 shares of the company’s stock after selling 572,238 shares during the period. Toronto Dominion Bank’s holdings in Ovintiv were worth $5,302,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of OVV. Ceredex Value Advisors LLC bought a new stake in Ovintiv during the fourth quarter valued at about $67,149,000. Balyasny Asset Management L.P. raised its position in Ovintiv by 1,560.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,451,240 shares of the company’s stock worth $63,738,000 after purchasing an additional 1,363,865 shares in the last quarter. Vanguard Group Inc. raised its position in Ovintiv by 3.8% in the first quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock worth $1,456,072,000 after purchasing an additional 1,024,931 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Ovintiv by 2,602.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 715,158 shares of the company’s stock worth $31,410,000 after buying an additional 688,690 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Ovintiv by 6,830.6% during the first quarter. SG Americas Securities LLC now owns 411,054 shares of the company’s stock worth $21,334,000 after buying an additional 405,123 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays initiated coverage on shares of Ovintiv in a research note on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price target on the stock. Morgan Stanley raised their price objective on shares of Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. UBS Group raised their price objective on shares of Ovintiv from $69.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Jefferies Financial Group raised their price objective on shares of Ovintiv from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Ovintiv from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.33.

Ovintiv Stock Up 0.4 %

Shares of NYSE OVV opened at $46.05 on Friday. The stock’s fifty day moving average is $47.57 and its 200 day moving average is $48.02. The stock has a market capitalization of $12.29 billion, a P/E ratio of 6.43, a PEG ratio of 7.56 and a beta of 2.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a 52 week low of $39.68 and a 52 week high of $55.95.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.58 billion. Sell-side analysts forecast that Ovintiv Inc. will post 5.7 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, June 14th. Ovintiv’s payout ratio is 16.76%.

Insider Buying and Selling

In related news, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $51.14, for a total value of $204,560.00. Following the transaction, the director now directly owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.00, for a total value of $600,000.00. Following the transaction, the director now directly owns 8,929 shares of the company’s stock, valued at $446,450. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $51.14, for a total value of $204,560.00. Following the completion of the transaction, the director now directly owns 45,279 shares in the company, valued at $2,315,568.06. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

About Ovintiv

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.