Ovintiv Inc. $OVV Shares Acquired by Principal Financial Group Inc.

Key Points

• Principal Financial Group boosted its Ovintiv stake by 12.6% in the first quarter, buying 75,229 more shares and ending with 670,905 shares worth about $39.8 million.
• Ovintiv has strong institutional support overall, with 83.81% of its stock owned by institutional investors and hedge funds, even as some other funds adjusted their positions.
• Analyst sentiment remains generally positive, with a Moderate Buy consensus and a $65.63 average price target, though several firms recently trimmed targets or issued hold-rated views.

Principal Financial Group Inc. increased its stake in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,905 shares of the company's stock after buying an additional 75,229 shares during the quarter. Principal Financial Group Inc. owned about 0.24% of Ovintiv worth $39,825,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Steph & Co. bought a new position in shares of Ovintiv in the first quarter worth $29,000. Root Financial Partners LLC raised its stake in shares of Ovintiv by 43.2% during the first quarter. Root Financial Partners LLC now owns 918 shares of the company's stock valued at $54,000 after purchasing an additional 277 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Ovintiv in the fourth quarter worth about $38,000. Los Angeles Capital Management LLC acquired a new stake in Ovintiv in the fourth quarter worth about $46,000. Finally, Deseret Mutual Benefit Administrators lifted its holdings in Ovintiv by 27.6% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company's stock worth $52,000 after purchasing an additional 287 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OVV shares. Truist Financial lowered their target price on Ovintiv from $70.00 to $66.00 and set a "buy" rating on the stock in a report on Monday, July 13th. Weiss Ratings downgraded shares of Ovintiv from a "buy (b-)" rating to a "hold (c)" rating in a report on Tuesday, May 12th. Barclays raised their price objective on shares of Ovintiv from $68.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Zacks Research cut shares of Ovintiv from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 15th. Finally, Roth Capital boosted their target price on shares of Ovintiv from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $65.63.

Ovintiv Stock Up 2.4%

Ovintiv stock opened at $57.82 on Friday. The firm has a market cap of $16.25 billion, a PE ratio of 18.65 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. The firm's 50 day moving average price is $56.19 and its two-hundred day moving average price is $52.37. Ovintiv Inc. has a twelve month low of $35.47 and a twelve month high of $63.46.

Ovintiv Announces Dividend

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

Key Stories Impacting 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

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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