Ovintiv Inc. $OVV Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its position in Ovintiv Inc. (NYSE:OVV) by 13.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,579 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Ovintiv were worth $4,962,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Stifel Financial Corp raised its position in Ovintiv by 1.4% during the fourth quarter. Stifel Financial Corp now owns 19,113 shares of the company’s stock valued at $749,000 after buying an additional 269 shares during the period. Root Financial Partners LLC grew its stake in Ovintiv by 43.2% during the 1st quarter. Root Financial Partners LLC now owns 918 shares of the company’s stock valued at $54,000 after acquiring an additional 277 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in Ovintiv by 27.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock valued at $52,000 after acquiring an additional 287 shares in the last quarter. Fiduciary Financial Group LLC grew its stake in Ovintiv by 3.2% during the 4th quarter. Fiduciary Financial Group LLC now owns 9,460 shares of the company’s stock valued at $371,000 after acquiring an additional 297 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Ovintiv by 9.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,150 shares of the company’s stock valued at $163,000 after purchasing an additional 362 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Texas Capital raised shares of Ovintiv to a “strong-buy” rating in a research report on Thursday, June 25th. Truist Financial dropped their price objective on shares of Ovintiv from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company upgraded shares of Ovintiv from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $57.00 to $80.00 in a research report on Monday, June 22nd. Mizuho lifted their target price on shares of Ovintiv from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, TD Cowen lifted their target price on shares of Ovintiv from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.16.

Ovintiv Price Performance

Shares of OVV opened at $56.30 on Wednesday. The firm has a market cap of $15.82 billion, a PE ratio of 18.16 and a beta of 0.53. The firm’s 50 day moving average price is $56.30 and its 200 day moving average price is $52.07. 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 twelve month low of $35.47 and a twelve month high of $63.46.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, June 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. Ovintiv’s dividend payout ratio (DPR) is currently 38.71%.

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.