Millennium Management LLC Purchases 3,060,691 Shares of Ovintiv Inc. $OVV

Millennium Management LLC lifted its stake in Ovintiv Inc. (NYSE:OVV) by 116.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,692,806 shares of the company’s stock after buying an additional 3,060,691 shares during the quarter. Millennium Management LLC’s holdings in Ovintiv were worth $223,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Moore Capital Management LP bought a new position in shares of Ovintiv in the fourth quarter worth about $4,115,000. Interval Partners LP raised its stake in shares of Ovintiv by 74.0% in the fourth quarter. Interval Partners LP now owns 139,592 shares of the company’s stock worth $5,471,000 after buying an additional 59,384 shares during the period. Janus Henderson Group PLC raised its stake in shares of Ovintiv by 4.1% in the fourth quarter. Janus Henderson Group PLC now owns 114,283 shares of the company’s stock worth $4,479,000 after buying an additional 4,486 shares during the period. Gotham Asset Management LLC raised its stake in shares of Ovintiv by 150.5% in the fourth quarter. Gotham Asset Management LLC now owns 258,586 shares of the company’s stock worth $10,134,000 after buying an additional 155,363 shares during the period. Finally, Evolve Private Wealth LLC bought a new position in shares of Ovintiv in the fourth quarter worth about $286,000. Institutional investors own 83.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OVV. Royal Bank Of Canada set a $70.00 price objective on Ovintiv and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. Barclays raised their price objective on Ovintiv from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Bank of America raised their price objective on Ovintiv from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. The Goldman Sachs Group raised their price objective on Ovintiv from $49.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, Morgan Stanley started coverage on Ovintiv in a research note on Friday, March 27th. They issued an “equal weight” rating and a $68.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.00.

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 Performance

NYSE:OVV opened at $53.60 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. Ovintiv Inc. has a 12-month low of $35.47 and a 12-month high of $63.46. The stock has a 50-day moving average price of $57.44 and a 200 day moving average price of $50.20. The stock has a market capitalization of $15.06 billion, a P/E ratio of 17.29 and a beta of 0.53.

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

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, June 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.2%. Ovintiv’s dividend payout ratio (DPR) is currently 38.71%.

Ovintiv Company 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.