Mizuho Bank Ltd. Invests $40,000 in Ovintiv Inc. (NYSE:OVV)

Mizuho Bank Ltd. acquired a new stake in shares of Ovintiv Inc. (NYSE:OVV) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,000 shares of the company’s stock, valued at approximately $40,000.

A number of other large investors have also added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew 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 worth $29,000 after acquiring an additional 360 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Ovintiv by 71.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 805 shares of the company’s stock valued at $32,000 after purchasing an additional 335 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Ovintiv by 451.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock worth $46,000 after buying an additional 940 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in shares of Ovintiv by 4,132.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,312 shares of the company’s stock worth $53,000 after buying an additional 1,281 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. Truist Financial lifted their target price on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Morgan Stanley reiterated an “overweight” rating and issued a $57.00 price objective on shares of Ovintiv in a report on Wednesday, March 26th. Mizuho decreased their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, UBS Group lowered their target price on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $57.17.

Ovintiv Price Performance

NYSE OVV opened at $32.89 on Friday. The business’s fifty day moving average is $42.11 and its 200 day moving average is $41.94. Ovintiv Inc. has a fifty-two week low of $32.63 and a fifty-two week high of $55.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $8.57 billion, a PE ratio of 4.36 and a beta of 2.04.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.65%. Ovintiv’s dividend payout ratio (DPR) is presently 28.57%.

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.