15 Best Stocks To Invest In For Retirement

4. Ovintiv Inc. (NYSE:OVV)

Dividend Yield as of February 19: 2.70%

Number of Hedge Fund Holders: 51

Ovintiv Inc. (NYSE:OVV) ranks 4th on our list of the best stocks to buy for a retirement portfolio. It is a Denver-based energy company specializing in natural gas, oil, and natural gas liquids across the United States and Canada. Ovintiv finalized its $2.38 billion deal to acquire Montney assets from Paramount Resources on January 31, 2025. The purchase adds 70,000 BOE/d of production, 900 well locations, and 109,000 acres, boosting its presence in the region with solid infrastructure access.

On November 8, Ovintiv Inc. (NYSE:OVV) declared a $0.30 per share quarterly dividend, in line with previous. The dividend was distributed to shareholders on December 31. Ovintiv pulled in $507 million in net earnings and $978 million in cash flow during Q3 2024, outperforming Wall Street expectations. The strong cash flow came from higher-than-expected production and lower costs, with output topping guidance across all products. Free cash flow hit $440 million, an improvement from Q2, even with lower oil prices. OVV distributed $240 million to shareholders, including $162 million in share buybacks and $78 million in base dividends.

According to Insider Monkey’s fourth-quarter database, 51 hedge funds held stakes worth $1.27 billion in Ovintiv Inc. (NYSE:OVV), compared to 44 funds in the prior quarter, worth $932 million. Arrowstreet Capital was the largest stakeholder of the company.