Grantham Mayo Van Otterloo & Co. LLC Cuts Stock Position in Ovintiv Inc. (NYSE:OVV)

Grantham Mayo Van Otterloo & Co. LLC decreased its position in shares of Ovintiv Inc. (NYSE:OVV) by 48.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,749 shares of the company’s stock after selling 220,311 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.09% of Ovintiv worth $9,548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its position in Ovintiv by 100.8% during the 4th 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 in 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 worth $32,000 after purchasing an additional 335 shares during the last quarter. Mizuho Bank Ltd. acquired a new position in Ovintiv during the 4th quarter valued at approximately $40,000. Cullen Frost Bankers Inc. lifted its stake in shares of Ovintiv by 3,571.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,028 shares of the company’s stock worth $42,000 after buying an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Ovintiv by 451.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the company’s stock valued at $46,000 after acquiring an additional 940 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OVV has been the topic of several research reports. JPMorgan Chase & Co. decreased their price objective on Ovintiv from $56.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Williams Trading set a $58.00 price objective on shares of Ovintiv in a research note on Wednesday, March 5th. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. UBS Group cut their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, December 9th. Finally, Wells Fargo & Company increased their target price on shares of Ovintiv from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $57.17.

Ovintiv Price Performance

Ovintiv stock opened at $32.89 on Monday. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 4.36 and a beta of 2.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv Inc. has a 1 year low of $31.95 and a 1 year high of $55.95. The company’s 50 day simple moving average is $42.11 and its 200-day simple moving average is $41.97.

Ovintiv Dividend Announcement

The firm also recently announced 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. This represents a $1.20 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, March 14th. Ovintiv’s payout ratio is currently 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.