Ovintiv Inc. (NYSE:OVV) Receives Average Recommendation of “Moderate Buy” from Analysts

Ovintiv Inc. (NYSE:OVVGet Free Report) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $53.38.

Several analysts recently commented on OVV shares. Scotiabank decreased their price target on Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. National Bankshares decreased their price target on Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. JPMorgan Chase & Co. upgraded Ovintiv from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $61.00 to $58.00 in a report on Wednesday, December 6th. Citigroup set a $52.00 price target on Ovintiv and gave the company a “buy” rating in a report on Monday, December 11th. Finally, UBS Group cut their target price on Ovintiv from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th.

View Our Latest Research Report on Ovintiv

Insider Buying and Selling

In other Ovintiv news, EVP Meghan Nicole Eilers sold 7,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $41.37, for a total value of $289,590.00. Following the sale, the executive vice president now owns 20,441 shares in the company, valued at approximately $845,644.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Steven W. Nance sold 13,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $43.78, for a total transaction of $569,140.00. Following the completion of the sale, the director now directly owns 24,193 shares of the company’s stock, valued at $1,059,169.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Meghan Nicole Eilers sold 7,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $41.37, for a total value of $289,590.00. Following the sale, the executive vice president now directly owns 20,441 shares of the company’s stock, valued at $845,644.17. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ovintiv

A number of large investors have recently made changes to their positions in OVV. Raymond James & Associates increased its holdings in shares of Ovintiv by 35.3% in the first quarter. Raymond James & Associates now owns 57,458 shares of the company’s stock worth $3,107,000 after buying an additional 14,978 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ovintiv in the 1st quarter worth approximately $525,000. HighTower Advisors LLC purchased a new position in Ovintiv in the 1st quarter worth approximately $715,000. Cetera Advisor Networks LLC purchased a new position in Ovintiv in the 1st quarter worth approximately $224,000. Finally, PNC Financial Services Group Inc. raised its holdings in Ovintiv by 45.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,605 shares of the company’s stock worth $843,000 after acquiring an additional 4,895 shares during the last quarter. 98.30% of the stock is owned by institutional investors.

Ovintiv Stock Performance

Shares of NYSE OVV opened at $42.59 on Tuesday. The company has a market cap of $11.62 billion, a P/E ratio of 4.23, a P/E/G ratio of 1.80 and a beta of 2.65. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.57. Ovintiv has a 12 month low of $32.07 and a 12 month high of $51.60. The business’s 50 day moving average is $42.49 and its two-hundred day moving average is $45.41.

About Ovintiv

(Get 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. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's 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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Analyst Recommendations for Ovintiv (NYSE:OVV)

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