Teacher Retirement System of Texas Has $30.17 Million Stock Position in Ovintiv Inc. (NYSE:OVV)

Teacher Retirement System of Texas increased its position in shares of Ovintiv Inc. (NYSE:OVV) by 180.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 744,905 shares of the company’s stock after purchasing an additional 478,846 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ovintiv were worth $30,169,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC grew its holdings in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after acquiring an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Ovintiv by 100.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock worth $32,000 after acquiring an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after acquiring an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Ovintiv by 451.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock worth $46,000 after acquiring an additional 940 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Down 0.4 %

Ovintiv stock opened at $42.18 on Friday. The company’s 50 day simple moving average is $42.84 and its 200 day simple moving average is $41.80. 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 $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 current ratio of 0.52 and a quick ratio of 0.52.

Ovintiv Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on OVV. Wells Fargo & Company increased 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. Williams Trading set a $58.00 price objective on shares of Ovintiv in a report on Wednesday, March 5th. Barclays raised their target price on shares of Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. reduced their target price on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and reduced their target price for the company from $55.00 to $54.00 in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.78.

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.