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

Teachers Retirement System of The State of Kentucky lessened its position in Ovintiv Inc. (NYSE:OVV) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,649 shares of the company’s stock after selling 2,180 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Ovintiv were worth $2,974,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake 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 acquiring an additional 6,486,159 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Ovintiv by 114.9% during the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock worth $141,889,000 after purchasing an additional 1,618,556 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Ovintiv by 7,422.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after purchasing an additional 1,340,947 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after buying an additional 1,207,610 shares during the last quarter. Finally, SIR Capital Management L.P. bought a new stake in Ovintiv during the 2nd quarter worth about $22,732,000. Institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Down 1.2 %

OVV stock opened at $40.51 on Friday. Ovintiv Inc. has a 52 week low of $36.90 and a 52 week high of $55.95. The company has a market capitalization of $10.55 billion, a PE ratio of 5.37 and a beta of 2.63. The company’s 50-day simple moving average is $42.32 and its 200 day simple moving average is $43.59. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial raised their price objective on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 15th. Morgan Stanley lowered their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company cut their price objective on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Finally, Citigroup dropped their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.47.

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.