MetLife Investment Management LLC Buys 10,338 Shares of Ovintiv Inc. (NYSE:OVV)

MetLife Investment Management LLC increased its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,800 shares of the company's stock after buying an additional 10,338 shares during the quarter. MetLife Investment Management LLC owned 0.06% of Ovintiv worth $5,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in OVV. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company's stock valued at $29,000 after buying an additional 360 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Ovintiv by 71.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 805 shares of the company's stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. Mizuho Bank Ltd. acquired a new stake in Ovintiv during the 4th quarter valued at approximately $40,000. Cullen Frost Bankers Inc. increased its position in Ovintiv by 3,571.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company's stock valued at $42,000 after purchasing an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Ovintiv by 451.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company's stock worth $46,000 after purchasing an additional 940 shares during the last quarter. Institutional investors own 83.81% of the company's stock.

Ovintiv Stock Down 1.1 %

Shares of OVV traded down $0.39 during trading hours on Tuesday, reaching $34.61. The stock had a trading volume of 605,455 shares, compared to its average volume of 3,174,311. The firm has a 50-day simple moving average of $38.41 and a 200 day simple moving average of $41.01. Ovintiv Inc. has a 12 month low of $29.80 and a 12 month high of $53.57. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 4.59 and a beta of 2.04.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Friday, March 14th. Ovintiv's dividend payout ratio (DPR) is 28.57%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OVV shares. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research report on Wednesday, March 5th. Barclays cut their price target on shares of Ovintiv from $59.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. National Bankshares lifted their price objective on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. BMO Capital Markets raised Ovintiv from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $55.00 to $57.00 in a research note on Monday, March 24th. Finally, Wells Fargo & Company raised their target price on Ovintiv from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $55.76.

About Ovintiv

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.