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

Toronto Dominion Bank increased its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 233.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 385,498 shares of the company's stock after purchasing an additional 269,843 shares during the period. Toronto Dominion Bank owned 0.15% of Ovintiv worth $15,611,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OVV. Arrowstreet Capital Limited Partnership grew its stake in Ovintiv by 1,732.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,387,923 shares of the company's stock worth $137,134,000 after purchasing an additional 3,203,087 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Ovintiv by 1,577.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,458,881 shares of the company's stock worth $99,587,000 after purchasing an additional 2,312,292 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Ovintiv by 243.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,564,698 shares of the company's stock worth $103,870,000 after purchasing an additional 1,818,337 shares in the last quarter. AQR Capital Management LLC grew its stake in Ovintiv by 69.7% in the fourth quarter. AQR Capital Management LLC now owns 3,283,743 shares of the company's stock worth $132,992,000 after purchasing an additional 1,348,221 shares in the last quarter. Finally, Webs Creek Capital Management LP bought a new position in Ovintiv in the fourth quarter worth about $54,086,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on OVV shares. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. National Bankshares raised their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Morgan Stanley reissued an "overweight" rating and issued a $50.00 target price on shares of Ovintiv in a report on Tuesday, April 15th. Wells Fargo & Company raised their target price on shares of Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Finally, Barclays cut their target price on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Ovintiv presently has a consensus rating of "Buy" and an average price target of $55.65.

Ovintiv Stock Performance

Shares of OVV traded up $0.14 during mid-day trading on Friday, reaching $35.81. 3,202,824 shares of the company's stock traded hands, compared to its average volume of 3,256,787. The business's 50-day moving average price is $36.63 and its 200-day moving average price is $40.44. The stock has a market capitalization of $9.30 billion, a P/E ratio of 4.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $51.72.

Ovintiv (NYSE:OVV - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.22. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.23 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. Equities analysts predict that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.30 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.35%. Ovintiv's dividend payout ratio (DPR) is 51.06%.

Ovintiv Company Profile

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.