Teachers Retirement System of The State of Kentucky Buys 10,000 Shares of Ovintiv Inc. $OVV

Teachers Retirement System of The State of Kentucky increased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 13.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 83,579 shares of the company’s stock after acquiring an additional 10,000 shares during the period. 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.

Other institutional investors have also made changes to their positions in the company. Stifel Financial Corp lifted its holdings in Ovintiv by 1.4% in the 4th quarter. Stifel Financial Corp now owns 19,113 shares of the company’s stock worth $749,000 after purchasing an additional 269 shares during the last quarter. Root Financial Partners LLC grew its holdings in Ovintiv by 43.2% during the first quarter. Root Financial Partners LLC now owns 918 shares of the company’s stock valued at $54,000 after purchasing an additional 277 shares during the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of Ovintiv by 27.6% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock valued at $52,000 after purchasing an additional 287 shares during the period. Fiduciary Financial Group LLC raised its position in shares of Ovintiv by 3.2% in the fourth quarter. Fiduciary Financial Group LLC now owns 9,460 shares of the company’s stock valued at $371,000 after purchasing an additional 297 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Ovintiv by 9.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,150 shares of the company’s stock worth $163,000 after buying an additional 362 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

Ovintiv Price Performance

NYSE:OVV opened at $56.30 on Wednesday. The stock has a market cap of $15.82 billion, a P/E ratio of 18.16 and a beta of 0.53. Ovintiv Inc. has a one year low of $35.47 and a one year high of $63.46. The company has a fifty day moving average price of $56.30 and a 200 day moving average price of $52.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.56 and a quick ratio of 0.56.

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. The ex-dividend date was Monday, June 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. Ovintiv’s payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

OVV has been the subject of several recent analyst reports. Wells Fargo & Company raised shares of Ovintiv from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $57.00 to $80.00 in a report on Monday, June 22nd. Citigroup reiterated a “neutral” rating and issued a $62.00 target price (up from $52.00) on shares of Ovintiv in a report on Monday, March 30th. Royal Bank Of Canada set a $70.00 price target on shares of Ovintiv and gave the company an “outperform” rating in a report on Monday, June 22nd. Zacks Research downgraded Ovintiv from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, Mizuho lifted their price objective on Ovintiv from $69.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.16.

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.