Dynamic Technology Lab Private Ltd Buys 39,133 Shares of Ovintiv Inc. $OVV

Key Points

• Dynamic Technology Lab Private Ltd boosted its stake in Ovintiv by 670.2%, buying 39,133 shares to hold 44,972 shares worth about $1.82M.
• Other institutions also increased positions—e.g., Dimensional Fund Advisors added ~1.93M shares and Charles Schwab holds 9.57M shares—leaving institutional ownership at 83.81%.
• Ovintiv beat quarterly EPS estimates ($1.39 vs. $0.98), declared a $0.30 quarterly dividend (annualized yield ~2.3%), and recent insider sales leave insiders with about 1.70% ownership.

Dynamic Technology Lab Private Ltd boosted its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 670.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,972 shares of the company's stock after purchasing an additional 39,133 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Ovintiv were worth $1,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of OVV. Charles Schwab Investment Management Inc. raised its position in shares of Ovintiv by 3.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 9,571,397 shares of the company's stock valued at $364,192,000 after buying an additional 312,827 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ovintiv by 25.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,389,865 shares of the company's stock worth $379,165,000 after acquiring an additional 1,927,193 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Ovintiv by 7.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,238,681 shares of the company's stock valued at $199,441,000 after acquiring an additional 368,249 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Ovintiv by 143.8% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,739,237 shares of the company's stock valued at $142,278,000 after acquiring an additional 2,205,233 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Ovintiv by 8.6% during the third quarter. Bank of New York Mellon Corp now owns 2,740,750 shares of the company's stock valued at $110,671,000 after purchasing an additional 216,153 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Insider Activity

In other news, Director Howard John Mayson sold 5,000 shares of Ovintiv stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total transaction of $261,950.00. Following the sale, the director directly owned 45,780 shares of the company's stock, valued at approximately $2,398,414.20. This trade represents a 9.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Gregory Dean Givens sold 50,000 shares of the business's stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $40.33, for a total value of $2,016,500.00. Following the sale, the chief operating officer owned 105,867 shares in the company, valued at approximately $4,269,616.11. This trade represents a 32.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.70% of the stock is currently owned by company insiders.

Ovintiv Stock Performance

NYSE OVV opened at $52.25 on Friday. The firm's fifty day moving average price is $44.29 and its two-hundred day moving average price is $41.28. The stock has a market cap of $14.80 billion, a PE ratio of 10.80, a PEG ratio of 2.83 and a beta of 0.69. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $53.31.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.41. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the prior year, the company earned ($0.23) EPS. On average, equities analysts expect that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.30 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.20 annualized dividend and a yield of 2.3%. Ovintiv's dividend payout ratio (DPR) is currently 24.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings restated a "hold (c-)" rating on shares of Ovintiv in a research note on Monday, December 29th. William Blair assumed coverage on Ovintiv in a report on Wednesday, November 26th. They set an "outperform" rating and a $50.00 price target for the company. JPMorgan Chase & Co. started coverage on Ovintiv in a research report on Wednesday, February 25th. They set an "overweight" rating and a $58.00 price objective for the company. Citigroup decreased their target price on Ovintiv from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, November 18th. Finally, Stephens raised Ovintiv to a "hold" rating in a research note on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.88.

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.

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