Ovintiv Inc. (NYSE:OVV) Stake Raised by Teacher Retirement System of Texas

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

A number of other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in Ovintiv by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 65,346 shares of the company's stock worth $2,647,000 after purchasing an additional 231 shares during the period. CIBC Asset Management Inc grew its position in shares of Ovintiv by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 7,937 shares of the company's stock valued at $304,000 after buying an additional 280 shares during the last quarter. Fifth Third Bancorp raised its stake in Ovintiv by 13.4% during the fourth quarter. Fifth Third Bancorp now owns 2,385 shares of the company's stock worth $97,000 after acquiring an additional 282 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in Ovintiv by 5.2% in the third quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company's stock worth $231,000 after acquiring an additional 298 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Ovintiv by 1.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 20,500 shares of the company's stock valued at $830,000 after acquiring an additional 300 shares during the period. 83.81% of the stock is currently owned by institutional investors.

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Ovintiv Trading Up 1.8 %

Shares of Ovintiv stock traded up $0.76 on Tuesday, reaching $43.77. 3,113,878 shares of the company were exchanged, compared to its average volume of 2,960,136. Ovintiv Inc. has a fifty-two week low of $36.62 and a fifty-two week high of $55.95. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 5.81 and a beta of 2.55. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average price of $42.77 and a 200-day moving average price of $41.82.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv's dividend payout ratio is 28.57%.

Analysts Set New Price Targets

Several analysts recently issued reports on OVV shares. Scotiabank raised Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. BMO Capital Markets raised shares of Ovintiv from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $55.00 to $57.00 in a report on Monday. UBS Group cut their price objective on shares of Ovintiv from $59.00 to $56.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. Barclays lifted their price target on Ovintiv from $57.00 to $59.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, Truist Financial lifted their target price on Ovintiv from $59.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.79.

Ovintiv Profile

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.