Principal Financial Group Inc. increased its position in shares of Ovintiv Inc. (NYSE:OVV – Free Report) by 12.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 670,905 shares of the company’s stock after buying an additional 75,229 shares during the period. Principal Financial Group Inc.’s holdings in Ovintiv were worth $39,825,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of OVV. BCS Private Wealth Management Inc. bought a new stake in Ovintiv during the fourth quarter valued at about $976,000. UBS Group AG increased its stake in shares of Ovintiv by 8.3% in the fourth quarter. UBS Group AG now owns 997,177 shares of the company’s stock worth $39,079,000 after purchasing an additional 76,846 shares during the period. TrueMark Investments LLC acquired a new position in shares of Ovintiv during the 4th quarter worth about $889,000. Intech Investment Management LLC acquired a new position in shares of Ovintiv during the 4th quarter worth about $5,045,000. Finally, Hillsdale Investment Management Inc. boosted its stake in Ovintiv by 317.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 187,800 shares of the company’s stock valued at $7,373,000 after purchasing an additional 142,800 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Ovintiv News Roundup
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
Ovintiv Stock Up 2.4%
Ovintiv Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.30 dividend. The ex-dividend date 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 (DPR) is currently 38.71%.
Wall Street Analysts Forecast Growth
A number of analysts have 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. Zacks Research lowered Ovintiv from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Weiss Ratings cut Ovintiv from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada set a $70.00 price objective on shares of Ovintiv and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Finally, Wall Street Zen lowered shares of Ovintiv from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.63.
View Our Latest Stock Analysis on OVV
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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