Illinois Municipal Retirement Fund Sells 8,762 Shares of Ovintiv Inc. $OVV

Illinois Municipal Retirement Fund decreased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 12.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 61,011 shares of the company’s stock after selling 8,762 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ovintiv were worth $3,622,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of Ovintiv by 263.8% during the third quarter. AQR Capital Management LLC now owns 4,949,637 shares of the company’s stock valued at $199,866,000 after buying an additional 3,589,030 shares during the period. Millennium Management LLC boosted its position in shares of Ovintiv by 116.3% in the fourth quarter. Millennium Management LLC now owns 5,692,806 shares of the company’s stock valued at $223,101,000 after acquiring an additional 3,060,691 shares during the period. Dimensional Fund Advisors LP grew its stake in Ovintiv by 17.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,059,334 shares of the company’s stock valued at $433,418,000 after acquiring an additional 1,669,469 shares in the last quarter. Goldentree Asset Management LP purchased a new position in Ovintiv during the fourth quarter valued at approximately $61,528,000. Finally, Freestone Grove Partners LP increased its holdings in Ovintiv by 79.9% during the 4th quarter. Freestone Grove Partners LP now owns 3,074,925 shares of the company’s stock worth $120,506,000 after acquiring an additional 1,365,535 shares during the period. Institutional investors own 83.81% of the company’s stock.

Analyst Upgrades and Downgrades

OVV has been the topic of several recent analyst reports. Bank of America increased their target price 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. Morgan Stanley decreased their price target on shares of Ovintiv from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. Barclays increased their price objective on Ovintiv from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Stephens dropped their price objective on Ovintiv from $71.00 to $68.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Mizuho boosted their target price on Ovintiv from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.63.

Ovintiv Trading Up 2.4%

Shares of OVV opened at $57.82 on Friday. Ovintiv Inc. has a 1-year low of $35.47 and a 1-year high of $63.46. The company has a market capitalization of $16.25 billion, a P/E ratio of 18.65 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50 day simple moving average is $56.19 and its 200 day simple moving average is $52.37.

Ovintiv Dividend Announcement

The business also recently disclosed 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, June 15th. Ovintiv’s payout ratio is currently 38.71%.

Key Stories Impacting Ovintiv

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Citigroup lowered its price target on Ovintiv to $66 from $70, but kept a Buy rating, implying additional upside from current levels. Benzinga
• Positive Sentiment: Zacks Research raised several forward earnings estimates for Ovintiv, including Q3 2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, FY2027, Q1 2028, Q2 2028 and FY2028, signaling expectations for continued earnings strength. MarketBeat
• Neutral Sentiment: Separately, Zacks Research trimmed its Q4 2026 EPS estimate slightly to $1.57 from $1.59 and maintained a Hold rating, which suggests some near-term caution ahead of earnings. MarketBeat
• Neutral Sentiment: Investors are also looking ahead to Ovintiv’s upcoming earnings report, with some market coverage noting the company still needs to prove it can deliver a beat. Zacks

Ovintiv Company 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.