California State Teachers Retirement System Boosts Position in Ovintiv Inc. $OVV

Key Points

• California State Teachers Retirement System dramatically increased its Ovintiv stake by 5,195.6% in the second quarter, ending with 17.35 million shares valued at approximately $913.4 million, or 6.3% of the company.
• Institutional ownership remains high at 83.81%, with BlackRock, Dimensional Fund Advisors, Charles Schwab Investment Management, Arrowstreet Capital, and Millennium Management also holding sizable positions.
• Ovintiv reported quarterly EPS of $1.74, below the $1.94 consensus, but exceeded revenue expectations with $3.01 billion. Analysts maintain a “Moderate Buy” consensus and an average price target of $68.20, while the company announced a quarterly dividend of $0.30 per share.

California State Teachers Retirement System grew its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 5,195.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,347,859 shares of the company's stock after buying an additional 17,020,269 shares during the period. California State Teachers Retirement System owned 6.30% of Ovintiv worth $913,365,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Ovintiv during the second quarter valued at approximately $1,422,959,000. Dimensional Fund Advisors LP boosted its holdings in Ovintiv by 17.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,059,334 shares of the company's stock valued at $433,418,000 after purchasing an additional 1,669,469 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Ovintiv by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,890,315 shares of the company's stock valued at $387,601,000 after purchasing an additional 203,256 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Ovintiv by 16.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,880,705 shares of the company's stock valued at $467,874,000 after purchasing an additional 1,137,162 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Ovintiv by 116.3% in the fourth quarter. Millennium Management LLC now owns 5,692,806 shares of the company's stock worth $223,101,000 after purchasing an additional 3,060,691 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Down 0.1%

Shares of OVV opened at $63.62 on Monday. Ovintiv Inc. has a fifty-two week low of $35.47 and a fifty-two week high of $67.51. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of 17.97 and a beta of 0.53. The firm has a 50 day moving average price of $61.68 and a 200-day moving average price of $58.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.01.

Ovintiv (NYSE:OVV - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.20). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.37 billion. Ovintiv had a net margin of 9.43% and a return on equity of 14.84%. As a group, equities research analysts forecast that Ovintiv Inc. will post 7.3 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Ovintiv's dividend payout ratio (DPR) is 33.90%.

Ovintiv News Summary

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Zacks raised its Q3 2026 EPS estimate to $1.47 from $1.45 and its Q4 2026 forecast to $1.49 from $1.47. It also increased its FY2026 estimate to $6.70 from $6.66, suggesting somewhat stronger expected near-term operating performance.
• Positive Sentiment: Forecasts for 2027 were also lifted: Q1 EPS rose to $1.31 from $1.29, Q2 to $1.26 from $1.24, Q3 to $1.25 from $1.24, Q4 to $1.29 from $1.27, and full-year EPS to $5.11 from $5.03. These revisions indicate improved expectations across the year.
• Positive Sentiment: Zacks increased its Q1 2028 EPS estimate to $1.45 from $1.43 and FY2028 EPS to $6.57 from $6.51. The firm also raised its Q2 2028 estimate to $1.99 from $1.97 in an earlier note, extending the favorable revisions into the longer term.
• Neutral Sentiment: Despite the higher forecasts, Zacks retained its Hold rating. Its current full-year consensus estimate remains $7.30 per share, so the revisions represent incremental optimism rather than a major change in the investment view.
• Neutral Sentiment: Stifel Nicolaus issued a new rating on Ovintiv, but the supplied headline does not identify the rating or price target. Ovintiv Receives a New Rating from Stifel Nicolaus

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. National Bank Financial upped their target price on Ovintiv from $82.00 to $83.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Morgan Stanley set a $67.00 price target on shares of Ovintiv in a report on Wednesday, August 19th. Zacks Research cut shares of Ovintiv from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 15th. Wall Street Zen raised shares of Ovintiv from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Finally, Seaport Research Partners assumed coverage on Ovintiv in a research note on Thursday, September 3rd. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.20.

Insider Activity

In other news, EVP Rachel Moore sold 7,753 shares of Ovintiv stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total value of $490,919.96. Following the transaction, the executive vice president owned 72,530 shares in the company, valued at approximately $4,592,599.60. The trade was a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.85% of the company's stock.

Ovintiv Profile

Ovintiv Inc is an independent North American energy company engaged primarily in the exploration, development, production and acquisition of oil, condensate, natural gas liquids and natural gas. Its portfolio is focused on unconventional, or shale, resource plays, with operations designed to produce a mix of higher-value liquids and natural gas.

The company's principal assets are located in the United States and Canada. Its U.S. operations include positions in the Permian Basin of west Texas and New Mexico, the Uinta Basin of Utah and the Anadarko Basin of Oklahoma, while its Canadian operations include properties in Alberta's Montney and Duvernay formations.

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