Millennium Management LLC Grows Stake in Ovintiv Inc. $OVV

Millennium Management LLC raised its stake in Ovintiv Inc. (NYSE:OVV) by 116.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,692,806 shares of the company’s stock after acquiring an additional 3,060,691 shares during the period. Millennium Management LLC owned approximately 2.25% of Ovintiv worth $223,101,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of OVV. AQR Capital Management LLC lifted its holdings in shares of Ovintiv by 263.8% during the third quarter. AQR Capital Management LLC now owns 4,949,637 shares of the company’s stock valued at $199,866,000 after purchasing an additional 3,589,030 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ovintiv by 25.8% during the third quarter. Dimensional Fund Advisors LP now owns 9,389,865 shares of the company’s stock valued at $379,165,000 after purchasing an additional 1,927,193 shares in the last quarter. Goldentree Asset Management LP bought a new position in shares of Ovintiv during the fourth quarter valued at $61,528,000. Freestone Grove Partners LP lifted its holdings in shares of Ovintiv by 79.9% during the fourth quarter. Freestone Grove Partners LP now owns 3,074,925 shares of the company’s stock valued at $120,506,000 after purchasing an additional 1,365,535 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Ovintiv during the second quarter valued at $41,701,000. 83.81% of the stock is owned by hedge funds and other institutional investors.

Key Ovintiv News

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Zacks Research lifted earnings forecasts for Ovintiv in several periods, including FY2026, FY2027, FY2028 and multiple quarterly estimates, which supports the view that the company’s operating performance remains solid.
• Positive Sentiment: The latest analyst note said Ovintiv’s stronger execution, cleaner balance sheet and Permian-Montney focus continue to support its stock performance. Ovintiv Up 38% in 6 Months: Should Investors Chase or Wait?
• Neutral Sentiment: Despite the higher earnings estimates, Zacks Research cut its recommendation to Hold, signaling that expectations may be stretched after the stock’s strong run.
• Neutral Sentiment: Ovintiv recently reported earnings above Wall Street estimates, with revenue also slightly ahead of forecasts, reinforcing confidence in its current fundamentals.

Ovintiv Stock Up 0.2%

OVV stock opened at $53.60 on Thursday. Ovintiv Inc. has a fifty-two week low of $35.47 and a fifty-two week high of $63.46. The business’s 50-day moving average is $57.44 and its two-hundred day moving average is $50.20. 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 company has a market cap of $15.06 billion, a price-to-earnings ratio of 17.29 and a beta of 0.53.

Ovintiv (NYSE:OVV) last posted its earnings results on Monday, May 11th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.15. Ovintiv had a return on equity of 13.14% and a net margin of 8.51%.The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. As a group, analysts forecast that Ovintiv Inc. will post 8.17 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.2%. Ovintiv’s dividend payout ratio is currently 38.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OVV shares. Wall Street Zen downgraded Ovintiv from a “buy” rating to a “hold” rating in a report on Sunday. TD Cowen upped their price target on Ovintiv from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Barclays upped their price target on Ovintiv from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Royal Bank Of Canada set a $70.00 price target on Ovintiv and gave the company an “outperform” rating in a report on Tuesday, June 9th. Finally, Scotiabank raised Ovintiv from an “outperform” rating to a “buy” rating in a report on Wednesday, May 20th. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.00.

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.