Teachers Retirement System of The State of Kentucky Sells 4,000 Shares of Ovintiv Inc. (NYSE:OVV)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Ovintiv Inc. (NYSE:OVV) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 79,829 shares of the company’s stock after selling 4,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Ovintiv were worth $3,506,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quent Capital LLC increased its position in shares of Ovintiv by 151.3% during the 4th quarter. Quent Capital LLC now owns 583 shares of the company’s stock valued at $26,000 after purchasing an additional 351 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Ovintiv by 107.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock valued at $31,000 after purchasing an additional 341 shares during the last quarter. Avalon Trust Co bought a new position in Ovintiv in the 4th quarter valued at $34,000. Pacifica Partners Inc. purchased a new stake in Ovintiv in the fourth quarter worth $37,000. Finally, Blue Trust Inc. increased its stake in Ovintiv by 20.5% in the fourth quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock worth $80,000 after purchasing an additional 284 shares during the period. Institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Shares of OVV stock opened at $45.94 on Wednesday. Ovintiv Inc. has a 1-year low of $34.50 and a 1-year high of $55.95. The stock’s 50-day moving average is $50.29 and its 200 day moving average is $47.30. The company has a market cap of $12.26 billion, a P/E ratio of 6.42 and a beta of 2.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.58 billion. Research analysts predict that Ovintiv Inc. will post 6.15 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, June 14th. Ovintiv’s dividend payout ratio is presently 16.76%.

Insiders Place Their Bets

In other Ovintiv news, Director Howard John Mayson sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $51.14, for a total value of $204,560.00. Following the completion of the sale, the director now owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $51.14, for a total transaction of $204,560.00. Following the completion of the sale, the director now owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $50.00, for a total value of $600,000.00. Following the sale, the director now directly owns 8,929 shares of the company’s stock, valued at approximately $446,450. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley increased their target price on Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Jefferies Financial Group increased their target price on Ovintiv from $59.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Mizuho increased their target price on Ovintiv from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Bank of America reiterated a “neutral” rating and issued a $55.00 target price on shares of Ovintiv in a research note on Friday, June 14th. Finally, Citigroup increased their target price on Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ovintiv currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.65.

Ovintiv Company 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.