Callodine Capital Management LP Raises Stock Position in Ovintiv Inc. $OVV

Callodine Capital Management LP grew its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 1,203.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 733,807 shares of the company's stock after purchasing an additional 677,500 shares during the quarter. Ovintiv comprises about 3.0% of Callodine Capital Management LP's holdings, making the stock its 12th biggest holding. Callodine Capital Management LP owned about 0.26% of Ovintiv worth $43,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OVV. Integrated Wealth Concepts LLC increased its position in shares of Ovintiv by 70.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company's stock valued at $391,000 after buying an additional 3,788 shares during the period. Great Lakes Advisors LLC bought a new stake in Ovintiv during the 1st quarter valued at approximately $202,000. Focus Partners Wealth boosted its position in Ovintiv by 49.3% during the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company's stock valued at $825,000 after acquiring an additional 6,364 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Ovintiv by 47.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company's stock worth $78,000 after acquiring an additional 589 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Ovintiv by 103.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,298 shares of the company's stock worth $126,000 after acquiring an additional 1,675 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Price Performance

OVV stock opened at $63.08 on Friday. The firm has a 50 day moving average price of $56.37 and a 200-day moving average price of $53.10. Ovintiv Inc. has a 52-week low of $35.47 and a 52-week high of $64.61. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of 17.82 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.56.

Ovintiv (NYSE:OVV - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.74 EPS for the quarter, missing analysts' consensus estimates of $1.94 by ($0.20). The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.37 billion. Ovintiv had a return on equity of 15.01% and a net margin of 9.43%. Equities research analysts forecast that Ovintiv Inc. will post 7.08 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Ovintiv's payout ratio is 33.90%.

Ovintiv News Roundup

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Ovintiv reported robust Q2 cash flow, including $1.6 billion from operations and $682 million in free cash flow, while returning a large portion of that cash to shareholders through buybacks and dividends. The company also said full-year shareholder returns are expected to exceed 60% of free cash flow. Ovintiv Reports Second Quarter 2026 Financial and Operating Results
• Positive Sentiment: The company raised full-year 2026 production guidance, citing higher expected oil and condensate output without increasing capital spending, which suggests improving efficiency and stronger operating leverage. Ovintiv Reports Second Quarter 2026 Financial and Operating Results
• Positive Sentiment: Ovintiv completed the sale of its Anadarko assets for about $2.82 billion in cash and ended the quarter with net debt of $2.995 billion, or just 0.6x adjusted EBITDA, reinforcing a cleaner balance sheet. Ovintiv Reports Second Quarter 2026 Financial and Operating Results
• Neutral Sentiment: The company declared a quarterly dividend of $0.30 per share, which supports its income profile but was largely expected.
• Negative Sentiment: Second-quarter earnings per share of $1.74 missed analyst estimates of around $1.91 to $1.94, which may cap some of the upside from the otherwise strong operating results. Ovintiv (OVV) Lags Q2 Earnings Estimates

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OVV shares. Roth Capital raised their target price on Ovintiv from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Royal Bank Of Canada set a $70.00 price target on Ovintiv and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Morgan Stanley decreased their price objective on Ovintiv from $68.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, June 29th. Scotiabank raised Ovintiv from an "outperform" rating to a "buy" rating in a research report on Wednesday, May 20th. Finally, Stephens restated a "positive" rating and set a $69.00 target price on shares of Ovintiv in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.68.

Ovintiv Profile

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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