Teachers Retirement System of The State of Kentucky Has $2.97 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Teachers Retirement System of The State of Kentucky decreased its holdings in Ovintiv Inc. (NYSE:OVV) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 77,649 shares of the company’s stock after selling 2,180 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Ovintiv were worth $2,974,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Drive Wealth Management LLC raised its stake in Ovintiv by 2.5% during the third quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock worth $395,000 after acquiring an additional 251 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Ovintiv by 3.7% during the third quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock worth $304,000 after buying an additional 280 shares in the last quarter. UMB Bank n.a. increased its holdings in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after purchasing an additional 286 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Ovintiv by 5.2% in the third quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock valued at $231,000 after purchasing an additional 298 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Ovintiv by 1.6% during the third quarter. Stifel Financial Corp now owns 20,385 shares of the company’s stock valued at $781,000 after purchasing an additional 322 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Price Performance

Ovintiv stock opened at $40.51 on Friday. The stock’s 50 day moving average price is $42.32 and its two-hundred day moving average price is $43.59. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 5.37 and a beta of 2.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a 52-week low of $36.90 and a 52-week high of $55.95.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OVV shares. UBS Group dropped their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Wells Fargo & Company dropped their price target on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 1st. Barclays boosted their price objective on shares of Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Truist Financial lifted their target price on Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.47.

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.