Grantham Mayo Van Otterloo & Co. LLC Has $1.27 Million Stock Position in Ovintiv Inc. $OVV

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of Ovintiv Inc. (NYSE:OVV) by 76.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,533 shares of the company’s stock after selling 100,214 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Ovintiv were worth $1,273,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC acquired a new stake in shares of Ovintiv during the 3rd quarter valued at $31,000. Foster Dykema Cabot & Partners LLC acquired a new position in Ovintiv in the 3rd quarter worth about $36,000. HM Payson & Co. bought a new position in Ovintiv in the third quarter valued at about $36,000. Quent Capital LLC bought a new position in Ovintiv in the third quarter valued at about $37,000. Finally, MAI Capital Management boosted its stake in shares of Ovintiv by 174.6% during the second quarter. MAI Capital Management now owns 1,170 shares of the company’s stock valued at $45,000 after purchasing an additional 744 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. TD Cowen upgraded Ovintiv to a “strong-buy” rating in a report on Monday, February 9th. William Blair assumed coverage on shares of Ovintiv in a research report on Wednesday, November 26th. They set an “outperform” rating and a $50.00 target price on the stock. Citigroup reduced their target price on shares of Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Roth Mkm upped their price target on shares of Ovintiv from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, National Bank Financial raised their price target on shares of Ovintiv from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.88.

Ovintiv Trading Down 1.5%

Shares of OVV stock opened at $52.93 on Wednesday. Ovintiv Inc. has a 1-year low of $29.80 and a 1-year high of $54.40. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 2.91 and a beta of 0.69. The stock has a 50-day moving average of $44.85 and a 200-day moving average of $41.49.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Monday, February 23rd. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.41. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the firm earned ($0.23) earnings per share. On average, equities research analysts forecast that Ovintiv Inc. will post 5.59 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.30 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.3%. Ovintiv’s payout ratio is 24.79%.

Insiders Place Their Bets

In other news, COO Gregory Dean Givens sold 50,000 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the sale, the chief operating officer directly owned 105,867 shares in the company, valued at $4,269,616.11. This represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Howard John Mayson sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total transaction of $261,950.00. Following the completion of the transaction, the director owned 45,780 shares in the company, valued at approximately $2,398,414.20. The trade was a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.89% of the company’s stock.

Ovintiv 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.