Hillsdale Investment Management Inc. Purchases 142,800 Shares of Ovintiv Inc. $OVV

Key Points

• Hillsdale Investment Management boosted its Ovintiv stake by 317.3% in Q4, buying 142,800 more shares and bringing its total holdings to 187,800 shares worth about $7.37 million.
• Analyst sentiment is broadly positive, with Barclays, Bank of America, and National Bank Financial all raising price targets, and Zacks upgrading Ovintiv to Strong Buy. MarketBeat reports a consensus rating of Moderate Buy with an average target of $63.
• Ovintiv also reported solid fundamentals, including Q1 earnings of $2.00 per share versus the $1.85 estimate, and announced a quarterly dividend of $0.30 per share payable June 30, implying a 2.1% yield.

Hillsdale Investment Management Inc. increased its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 317.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,800 shares of the company's stock after buying an additional 142,800 shares during the quarter. Hillsdale Investment Management Inc. owned 0.07% of Ovintiv worth $7,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of OVV. Integrated Wealth Concepts LLC lifted its position in 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 during the last quarter. Great Lakes Advisors LLC bought a new stake in Ovintiv in the 1st quarter worth approximately $202,000. Focus Partners Wealth lifted its position in Ovintiv by 49.3% in the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company's stock worth $825,000 after buying an additional 6,364 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Ovintiv by 47.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company's stock worth $78,000 after buying an additional 589 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 valued at $126,000 after purchasing an additional 1,675 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays boosted their price objective on Ovintiv from $68.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday. Zacks Research upgraded Ovintiv from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. Weiss Ratings downgraded Ovintiv from a "buy (b-)" rating to a "hold (c)" rating in a research report on Tuesday, May 12th. Bank of America boosted their price objective on Ovintiv from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Finally, National Bank Financial boosted their price objective on Ovintiv from $80.00 to $82.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Ovintiv presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Ovintiv News Summary

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Zacks Research raised Ovintiv’s earnings outlook across several future periods, including higher estimates for FY2026, FY2027, and FY2028, signaling improved profit expectations.
• Positive Sentiment: The firm reiterated a Strong-Buy rating on Ovintiv, reinforcing a bullish analyst stance on the stock.
• Neutral Sentiment: The updated estimates still remain below the broader consensus for current-year earnings, so the bullish impact may be tempered by existing market expectations.

Insider Activity at Ovintiv

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $54.78, for a total transaction of $634,461.96. Following the transaction, the executive vice president directly owned 54,092 shares of the company's stock, valued at approximately $2,963,159.76. The trade was a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Howard John Mayson sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total value of $261,950.00. Following the transaction, the director directly owned 45,780 shares in the company, valued at $2,398,414.20. This trade represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.85% of the stock is currently owned by insiders.

Ovintiv Price Performance

OVV opened at $55.95 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.56. Ovintiv Inc. has a 52-week low of $35.47 and a 52-week high of $63.46. The stock has a market capitalization of $15.72 billion, a PE ratio of 18.05 and a beta of 0.57. The stock's 50 day moving average price is $58.01 and its 200-day moving average price is $48.51.

Ovintiv (NYSE:OVV - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.15. Ovintiv had a return on equity of 13.14% and a net margin of 8.51%.The firm had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.38 billion. On average, equities research analysts predict that Ovintiv Inc. will post 8.15 EPS for the current year.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. Ovintiv's payout ratio is 38.71%.

About Ovintiv

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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