Mitsubishi UFJ Trust & Banking Corp Has $7.64 Million Stock Holdings in Ovintiv Inc. $OVV

Key Points

• Mitsubishi UFJ Trust & Banking trimmed its stake in Ovintiv by 16.3%, selling 38,510 shares and now holds 197,107 shares worth about $7.64 million (≈0.08% of the company).
• Ovintiv beat quarterly expectations with $1.39 EPS vs. $0.98 expected, reported $1.89 billion in revenue, and recently paid a quarterly dividend of $0.30 (annualized $1.20, ~2.0% yield).
• Company insiders have been selling: EVP Meghan Eilers sold 11,582 shares (~$634k) and Director Howard Mayson sold 5,000 shares (~$262k), leaving insiders owning about 0.85% of the stock.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,107 shares of the company's stock after selling 38,510 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Ovintiv worth $7,638,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Fiduciary Financial Group LLC increased its position in Ovintiv by 3.2% in the 4th quarter. Fiduciary Financial Group LLC now owns 9,460 shares of the company's stock worth $371,000 after purchasing an additional 297 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Ovintiv by 2.3% in the third quarter. PNC Financial Services Group Inc. now owns 14,834 shares of the company's stock worth $599,000 after buying an additional 340 shares during the last quarter. KLP Kapitalforvaltning AS raised its position in Ovintiv by 0.6% during the third quarter. KLP Kapitalforvaltning AS now owns 63,400 shares of the company's stock valued at $2,560,000 after acquiring an additional 400 shares in the last quarter. Forum Financial Management LP lifted its stake in Ovintiv by 5.2% in the third quarter. Forum Financial Management LP now owns 9,402 shares of the company's stock valued at $380,000 after acquiring an additional 464 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Ovintiv by 58.4% in the third quarter. IFP Advisors Inc now owns 1,340 shares of the company's stock valued at $54,000 after acquiring an additional 494 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Insider Buying and Selling

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

Ovintiv Stock Performance

Shares of OVV opened at $60.84 on Friday. The company has a market capitalization of $17.24 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 2.02 and a beta of 0.57. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.54 and a quick ratio of 0.54. Ovintiv Inc. has a one year low of $33.26 and a one year high of $62.60. The company's fifty day moving average price is $55.74 and its 200 day moving average price is $45.65.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.41. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.89 billion. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. During the same period in the prior year, the company earned ($0.23) earnings per share. As a group, analysts expect that Ovintiv Inc. will post 6.42 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.0%. Ovintiv's dividend payout ratio (DPR) is 24.79%.

Analyst Ratings Changes

Several brokerages have recently commented on OVV. Bank of America increased their price target on shares of Ovintiv from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Wall Street Zen cut shares of Ovintiv from a "buy" rating to a "hold" rating in a report on Saturday. Roth Mkm increased their target price on shares of Ovintiv from $42.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. initiated coverage on Ovintiv in a report on Wednesday, February 25th. They set an "overweight" rating and a $58.00 target price on the stock. Finally, Weiss Ratings raised Ovintiv from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Ovintiv currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.42.

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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