MML Investors Services LLC Acquires 1,074 Shares of Ovintiv Inc. (NYSE:OVV)

MML Investors Services LLC increased its holdings in shares of Ovintiv Inc. (NYSE:OVV) by 11.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,570 shares of the company’s stock after purchasing an additional 1,074 shares during the period. MML Investors Services LLC’s holdings in Ovintiv were worth $405,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC boosted its position in Ovintiv by 17.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after acquiring an additional 1,207,610 shares in the last quarter. Pacer Advisors Inc. boosted its position in Ovintiv by 11,282.4% during the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after purchasing an additional 6,486,159 shares in the last quarter. Smead Capital Management Inc. grew its stake in Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after purchasing an additional 212,535 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Ovintiv by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,844,632 shares of the company’s stock worth $180,194,000 after purchasing an additional 142,296 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Ovintiv by 114.9% during the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock valued at $141,889,000 after buying an additional 1,618,556 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Trading Up 0.9 %

NYSE OVV opened at $38.13 on Tuesday. Ovintiv Inc. has a 1 year low of $36.90 and a 1 year high of $55.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $9.93 billion, a PE ratio of 5.06 and a beta of 2.63. The company has a fifty day moving average of $41.90 and a 200 day moving average of $43.18.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.15%. Ovintiv’s payout ratio is 15.92%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OVV shares. Scotiabank lifted their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Evercore ISI reduced their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Barclays increased their price objective on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 15th. UBS Group dropped their target price on Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Finally, Morgan Stanley decreased their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.59.

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.