The Vanguard Group, Inc. has recently announced that it has increased stake in Ovintiv Inc (NYSE:OVV) by 10.32%. After grabbing 26.7 million shares, the institutional investor is now in possession of 2.5 million shares of the Energy Company. The new investment brought the stake of investor firm to 9.79% having worth around $1.18 billion. Moreover, BlackRock Fund Advisors increased its share by 0.78 million to have a control over 22.75 million shares. And Fidelity Management & Research Co raised its holdings to 0.2 million shares by acquiring 17.54 million shares or 6.43% of the stake.
Ovintiv Inc (OVV) concluded trading on 01/04/24 at a closing price of $43.16, with 6.16 million shares of worth about $265.78 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 15.77% during that period and on Thursday the price saw a loss of about -3.14%. Currently the company’s common shares owned by public are about 272.90M shares, out of which, 247.49M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 0 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Dodge & Cox International Stock F, Vanguard Total Stock Market ETF, and iShares Core S&P Mid Cap ETF are the top 3 mutual funds which are holding stakes in Ovintiv Inc Dodge & Cox International Stock F is currently holding 15.51 million shares of worth totaling $687.76 million. The company recently came buying 0.0 shares which brought its stake up to 5.68% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 10170.0 shares, after which its hold over company’s outstanding shares expand to 3.13%, leaving 8.55 million shares with the mutual fund that have a worth of about $378.89 million. iShares Core S&P Mid Cap ETF, after buying 7.83 million shares, have now control over 2.87% of the stake in the company. It holds 1389.0 shares of worth $347.08 million.
Ovintiv Inc (NYSE: OVV) started trading at $44.40, below -$0.16 from concluding price of the previous day. However, the stock later moved at a day high price of 44.51, or with a loss of -3.14%. Stock saw a price change of -4.09% in past 5 days and over the past one month there was a price change of -1.21%. Year-to-date (YTD), OVV shares are showing a performance of -1.73% which decreased to -8.17% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $32.07 but also hit the highest price of $52.47 during that period. The average intraday trading volume for Ovintiv Inc shares is 2.74 million. The stock is currently trading -0.06% below its 20-day simple moving average (SMA20), while that difference is down -3.72% for SMA50 and it goes to 2.68% higher than SMA200.
The Vanguard Group, Inc. acquired 26.7 million shares of Ovintiv Inc having value of about $1.18 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 2.5 million shares in the company valued at close to $107846093.16, or have control over 10.32% stake in the company. Ovintiv Inc (NYSE: OVV) currently have 272.90M outstanding shares and institutions hold larger chunk of about 78.83% of that. Holding of mutual funds in the company is about 28.23% while other institutional holders and individual stake holders have control over 51.00% and 0.69% of the stake respectively.
The stock has a current market capitalization of $11.78B and its 3Y-monthly beta is at 2.66. PE ratio of stock for trailing 12 months is 4.28, while it has posted earnings per share of $10.08 in the same period. Its PEG reads 0.33 and has Quick Ratio of 0.45 while making debt-to-equity ratio of 0.74. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OVV, volatility over the week remained 2.22% while standing at 2.33% over the month.
Analysts are in expectations that Ovintiv Inc (OVV) stock would likely to be making an EPS of $2.23 in the current quarter, while forecast for next quarter EPS is $2.06 and it is $7.83 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.84 which is $2.89 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.91 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -2.77% while it is estimated to increase by 12.18% in next year. EPS is likely to shrink at an annualized rate of 13.10% for next 5-years, compared to annual growth of 27.54% made by the stock over the past 5-years.
Analysts at 26 brokerage firms have issued recommendations for the Ovintiv Inc (OVV)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.81. Out of those 26 Wall Street analysts, 14 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on December 06, 2023 offering an Overweight rating for the stock and assigned a target price range of between $61 and $58 to it.
