Grantham Mayo Van Otterloo & Co. LLC Sells 100,214 Shares of Ovintiv Inc. $OVV

Grantham Mayo Van Otterloo & Co. LLC decreased its stake in shares of Ovintiv Inc. (NYSE:OVV) by 76.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of OVV. Wealth Enhancement Advisory Services LLC boosted its holdings in Ovintiv by 296.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 79,012 shares of the company’s stock worth $3,134,000 after acquiring an additional 59,069 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Ovintiv during the third quarter valued at approximately $1,816,000. Moody Aldrich Partners LLC increased its holdings in shares of Ovintiv by 152.1% during the third quarter. Moody Aldrich Partners LLC now owns 140,423 shares of the company’s stock valued at $5,670,000 after acquiring an additional 84,730 shares in the last quarter. Citigroup Inc. raised its position in shares of Ovintiv by 42.1% during the third quarter. Citigroup Inc. now owns 174,090 shares of the company’s stock worth $7,030,000 after purchasing an additional 51,562 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Ovintiv by 466.2% during the third quarter. SG Americas Securities LLC now owns 132,552 shares of the company’s stock worth $5,352,000 after purchasing an additional 109,142 shares during the period. Institutional investors own 83.81% of the company’s stock.

Ovintiv Price Performance

Ovintiv stock opened at $52.93 on Wednesday. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $54.40. The company’s 50 day moving average price is $44.85 and its two-hundred day moving average price is $41.49. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market cap of $15.00 billion, a P/E ratio of 10.94, a P/E/G ratio of 2.91 and a beta of 0.69.

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

Ovintiv Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OVV. TD Cowen raised shares of Ovintiv to a “strong-buy” rating in a research report on Monday, February 9th. JPMorgan Chase & Co. assumed coverage on shares of Ovintiv in a report on Wednesday, February 25th. They set an “overweight” rating and a $58.00 price objective for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a research report on Monday, December 29th. Zacks Research upgraded shares of Ovintiv from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Scotiabank upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.88.

Insiders Place Their Bets

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

Ovintiv Company 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.