Grantham Mayo Van Otterloo & Co. LLC trimmed its stake in Ovintiv Inc. (NYSE:OVV - Free Report) by 48.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 SEC filing.
A number of other large investors have also recently modified their holdings of OVV. HighTower Advisors LLC boosted its position in Ovintiv by 17.5% during the 3rd quarter. HighTower Advisors LLC now owns 15,456 shares of the company's stock valued at $591,000 after acquiring an additional 2,303 shares in the last quarter. Investment Management Corp of Ontario lifted its stake in shares of Ovintiv by 46.1% in the 3rd quarter. Investment Management Corp of Ontario now owns 8,870 shares of the company's stock valued at $340,000 after purchasing an additional 2,800 shares during the period. Stifel Financial Corp boosted its position in shares of Ovintiv by 1.6% during the third quarter. Stifel Financial Corp now owns 20,385 shares of the company's stock valued at $781,000 after purchasing an additional 322 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Ovintiv in the third quarter worth $214,000. Finally, National Bank of Canada FI raised its holdings in Ovintiv by 505.0% in the third quarter. National Bank of Canada FI now owns 108,017 shares of the company's stock worth $4,138,000 after purchasing an additional 90,163 shares in the last quarter. Institutional investors own 83.81% of the company's stock.
Ovintiv Stock Performance
OVV traded up $1.05 during midday trading on Friday, hitting $32.77. 4,427,024 shares of the company traded hands, compared to its average volume of 3,159,567. The company's 50-day moving average is $40.67 and its 200 day moving average is $41.60. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $8.53 billion, a PE ratio of 4.35 and a beta of 2.04. Ovintiv Inc. has a 52 week low of $29.80 and a 52 week high of $55.77.
Ovintiv Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.66%. Ovintiv's dividend payout ratio (DPR) is 28.57%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on OVV. National Bankshares upped their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Williams Trading set a $58.00 target price on shares of Ovintiv in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Ovintiv from $56.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Truist Financial upped their price target on Ovintiv from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Mizuho lowered their price objective on Ovintiv from $63.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $57.17.
Check Out Our Latest Research Report on Ovintiv
About Ovintiv
(
Free Report)
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.
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