Bank of New York Mellon Corp Buys 239,054 Shares of Ovintiv Inc. $OVV

Key Points

• Bank of New York Mellon increased its stake in Ovintiv by 8.8% in the first quarter, buying 239,054 additional shares and bringing its total holding to 2.95 million shares worth about $174.9 million.
• Institutional ownership of Ovintiv remains high at 83.81%, and several other funds also added to their positions during the quarter.
• Analysts are mixed on the stock: some firms upgraded or kept Buy ratings, but others cut ratings or price targets, leaving Ovintiv with a consensus Moderate Buy rating and an average target price of $65.63.

Bank of New York Mellon Corp boosted its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,945,692 shares of the company's stock after purchasing an additional 239,054 shares during the period. Bank of New York Mellon Corp owned about 1.04% of Ovintiv worth $174,856,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Sanctuary Advisors LLC increased its position in Ovintiv by 2.6% in the first quarter. Sanctuary Advisors LLC now owns 13,020 shares of the company's stock worth $773,000 after buying an additional 324 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Ovintiv by 17.5% during the 1st quarter. Maryland State Retirement & Pension System now owns 14,456 shares of the company's stock valued at $858,000 after acquiring an additional 2,149 shares during the period. State of Michigan Retirement System grew its stake in shares of Ovintiv by 11.7% during the 1st quarter. State of Michigan Retirement System now owns 66,800 shares of the company's stock valued at $3,965,000 after acquiring an additional 7,000 shares during the period. Principal Financial Group Inc. grew its stake in shares of Ovintiv by 12.6% during the 1st quarter. Principal Financial Group Inc. now owns 670,905 shares of the company's stock valued at $39,825,000 after acquiring an additional 75,229 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Ovintiv by 13.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 83,579 shares of the company's stock worth $4,962,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 83.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Ovintiv from a "buy" rating to a "hold" rating in a report on Tuesday, June 30th. Wells Fargo & Company upgraded shares of Ovintiv from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $57.00 to $80.00 in a research report on Monday, June 22nd. Weiss Ratings cut shares of Ovintiv from a "buy (b-)" rating to a "hold (c)" rating in a research note on Tuesday, May 12th. Morgan Stanley decreased their price objective on shares of Ovintiv from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, June 29th. Finally, Zacks Research cut shares of Ovintiv from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.63.

Trending Headlines about Ovintiv

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Citigroup lowered its price target on Ovintiv to $66 from $70, but kept a Buy rating, implying additional upside from current levels. Benzinga
• Positive Sentiment: Zacks Research raised several forward earnings estimates for Ovintiv, including Q3 2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, FY2027, Q1 2028, Q2 2028 and FY2028, signaling expectations for continued earnings strength. MarketBeat
• Neutral Sentiment: Separately, Zacks Research trimmed its Q4 2026 EPS estimate slightly to $1.57 from $1.59 and maintained a Hold rating, which suggests some near-term caution ahead of earnings. MarketBeat
• Neutral Sentiment: Investors are also looking ahead to Ovintiv’s upcoming earnings report, with some market coverage noting the company still needs to prove it can deliver a beat. Zacks

Ovintiv Stock Up 2.4%

Shares of OVV opened at $57.82 on Friday. The business's 50 day moving average is $56.19 and its 200 day moving average is $52.37. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. Ovintiv Inc. has a 12-month low of $35.47 and a 12-month high of $63.46. The company has a market capitalization of $16.25 billion, a PE ratio of 18.65 and a beta of 0.53.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, June 15th. Ovintiv's payout ratio is 38.71%.

About Ovintiv

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv's upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company's core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.

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