Ovintiv Inc. (NYSE:OVV) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its position in shares of Ovintiv Inc. (NYSE:OVV) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 558,571 shares of the company’s stock after selling 884 shares during the quarter. Toronto Dominion Bank owned 0.21% of Ovintiv worth $17,603,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Ovintiv by 8.4% during the first quarter. BlackRock Inc. now owns 21,898,151 shares of the company’s stock worth $521,612,000 after acquiring an additional 1,694,168 shares during the period. Geode Capital Management LLC increased its stake in shares of Ovintiv by 8.1% during the first quarter. Geode Capital Management LLC now owns 4,175,631 shares of the company’s stock worth $99,463,000 after acquiring an additional 311,305 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Ovintiv by 14.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,325,187 shares of the company’s stock worth $55,387,000 after acquiring an additional 289,013 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of Ovintiv by 11.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,993,035 shares of the company’s stock worth $62,720,000 after acquiring an additional 202,345 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Ovintiv by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,569,711 shares of the company’s stock worth $22,542,000 after acquiring an additional 19,844 shares during the period. Institutional investors and hedge funds own 70.06% of the company’s stock.

In related news, Director Katherine Lucas Minyard purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 24th. The stock was purchased at an average price of $31.55 per share, with a total value of $126,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Several research analysts have weighed in on OVV shares. Barclays upgraded shares of Ovintiv from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $21.00 to $33.00 in a research report on Thursday, June 3rd. Zacks Investment Research upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, July 7th. National Bankshares lowered their target price on shares of Ovintiv from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, July 30th. Mizuho lowered their target price on shares of Ovintiv from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, August 13th. Finally, Raymond James set a $35.00 target price on shares of Ovintiv and gave the stock a “market perform” rating in a research report on Monday, September 13th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ovintiv currently has a consensus rating of “Buy” and an average target price of $32.93.

Shares of OVV stock opened at $29.37 on Friday. Ovintiv Inc. has a one year low of $6.81 and a one year high of $33.46. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50 day moving average price of $26.61 and a 200 day moving average price of $26.78. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of -3.75 and a beta of 3.92.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Tuesday, July 27th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.75 by $0.36. Ovintiv had a negative net margin of 32.51% and a positive return on equity of 18.65%. As a group, equities analysts forecast that Ovintiv Inc. will post 4.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 15th will be given a dividend of $0.14 per share. This is a positive change from Ovintiv’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.56 annualized dividend and a yield of 1.91%. Ovintiv’s dividend payout ratio is 160.00%.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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Institutional Ownership by Quarter for Ovintiv (NYSE:OVV)

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