Teacher Retirement System of Texas Has $21.36 Million Stock Holdings in Ovintiv Inc. (NYSE:OVV)

Teacher Retirement System of Texas lowered its holdings in shares of Ovintiv Inc. (NYSE:OVV - Free Report) by 33.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 499,023 shares of the company's stock after selling 245,882 shares during the period. Teacher Retirement System of Texas owned about 0.19% of Ovintiv worth $21,358,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lodestone Wealth Management LLC increased its position in shares of Ovintiv by 38.6% in the first quarter. Lodestone Wealth Management LLC now owns 31,845 shares of the company's stock valued at $1,363,000 after acquiring an additional 8,872 shares during the period. Miller Howard Investments Inc. NY increased its position in shares of Ovintiv by 9.8% during the first quarter. Miller Howard Investments Inc. NY now owns 24,931 shares of the company's stock valued at $1,067,000 after buying an additional 2,230 shares during the period. DAVENPORT & Co LLC increased its position in shares of Ovintiv by 5.1% during the first quarter. DAVENPORT & Co LLC now owns 17,220 shares of the company's stock valued at $737,000 after buying an additional 836 shares during the period. KBC Group NV increased its position in shares of Ovintiv by 1.3% during the first quarter. KBC Group NV now owns 400,002 shares of the company's stock valued at $17,120,000 after buying an additional 5,109 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Ovintiv by 3.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,554 shares of the company's stock valued at $21,595,000 after buying an additional 15,738 shares during the period. Institutional investors own 83.81% of the company's stock.

Ovintiv Stock Down 2.1%

NYSE:OVV traded down $0.83 during midday trading on Monday, hitting $39.09. 1,273,897 shares of the company were exchanged, compared to its average volume of 3,332,316. Ovintiv Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $49.57. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $10.16 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.08. The company has a fifty day simple moving average of $37.74 and a 200 day simple moving average of $39.57.

Ovintiv (NYSE:OVV - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.22. Ovintiv had a net margin of 6.84% and a return on equity of 14.89%. The company had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.23 billion. As a group, equities analysts anticipate that Ovintiv Inc. will post 5.59 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.07%. Ovintiv's dividend payout ratio is presently 51.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on OVV shares. Scotiabank upgraded shares of Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets upgraded shares of Ovintiv from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $55.00 to $57.00 in a report on Monday, March 24th. Wells Fargo & Company cut their price objective on shares of Ovintiv from $46.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Monday, June 16th. Citigroup set a $54.00 price objective on shares of Ovintiv and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and increased their target price for the company from $47.00 to $51.00 in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $54.59.

Ovintiv Company Profile

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.