Teacher Retirement System of Texas Sells 420,288 Shares of Ovintiv Inc. $OVV

Teacher Retirement System of Texas trimmed its position in shares of Ovintiv Inc. (NYSE:OVV) by 84.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,735 shares of the company’s stock after selling 420,288 shares during the quarter. Teacher Retirement System of Texas’ holdings in Ovintiv were worth $2,996,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors Inc. raised its position in Ovintiv by 1,681.1% in the 1st quarter. Atlas Capital Advisors Inc. now owns 13,875 shares of the company’s stock worth $594,000 after purchasing an additional 13,096 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Ovintiv by 54.3% during the 1st quarter. BNP Paribas Financial Markets now owns 962,871 shares of the company’s stock worth $41,211,000 after acquiring an additional 338,866 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Ovintiv by 204.2% during the 1st quarter. Raymond James Financial Inc. now owns 583,839 shares of the company’s stock valued at $24,988,000 after acquiring an additional 391,923 shares during the period. Charles Schwab Investment Management Inc. grew its position in Ovintiv by 383.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock valued at $396,267,000 after acquiring an additional 7,344,796 shares during the last quarter. Finally, Lifestyle Asset Management Inc. increased its stake in Ovintiv by 46.8% in the second quarter. Lifestyle Asset Management Inc. now owns 28,170 shares of the company’s stock worth $1,072,000 after purchasing an additional 8,987 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. National Bankshares cut their price target on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. Scotiabank lifted their price target on shares of Ovintiv from $48.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, July 11th. Morgan Stanley dropped their price objective on Ovintiv from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Barclays decreased their target price on Ovintiv from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Finally, Mizuho lowered their target price on Ovintiv from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ovintiv presently has a consensus rating of “Moderate Buy” and an average price target of $51.47.

Ovintiv Trading Up 1.7%

Shares of NYSE:OVV opened at $37.52 on Friday. The company has a market capitalization of $9.64 billion, a PE ratio of 16.60, a P/E/G ratio of 1.89 and a beta of 0.97. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. Ovintiv Inc. has a 12-month low of $29.80 and a 12-month high of $47.18. The business’s fifty day simple moving average is $39.98 and its 200-day simple moving average is $38.89.

Ovintiv 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.