Teacher Retirement System of Texas Acquires 478,846 Shares of Ovintiv Inc. (NYSE:OVV)

Teacher Retirement System of Texas grew its holdings in Ovintiv Inc. (NYSE:OVV) by 180.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 744,905 shares of the company’s stock after acquiring an additional 478,846 shares during the period. Teacher Retirement System of Texas owned 0.29% of Ovintiv worth $30,169,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OVV. Pacer Advisors Inc. boosted its holdings in shares of Ovintiv by 11,282.4% during the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock worth $250,687,000 after buying an additional 6,486,159 shares during the period. Pacific Heights Asset Management LLC boosted its holdings in shares of Ovintiv by 697.4% during the 4th quarter. Pacific Heights Asset Management LLC now owns 1,515,000 shares of the company’s stock worth $61,358,000 after buying an additional 1,325,000 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Ovintiv by 17.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after buying an additional 1,207,610 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Ovintiv by 1,807.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 791,853 shares of the company’s stock worth $32,070,000 after buying an additional 750,349 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Ovintiv by 2,105.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 333,150 shares of the company’s stock worth $12,763,000 after buying an additional 318,041 shares during the period. 83.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Mizuho decreased their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Wells Fargo & Company upped their price objective on shares of Ovintiv from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday. Truist Financial upped their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. reduced their price target on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Citigroup reduced their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.78.

Ovintiv Trading Down 0.4 %

Shares of OVV stock opened at $42.18 on Friday. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 5.59 and a beta of 2.55. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a fifty day moving average of $42.84 and a 200-day moving average of $41.80. Ovintiv Inc. has a 52-week low of $36.62 and a 52-week high of $55.95.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) is currently 28.57%.

About Ovintiv

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.