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

Shares of Ovintiv Inc. (NYSE:OVVGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $53.94.

A number of equities analysts recently commented on OVV shares. UBS Group lowered their target price on Ovintiv from $63.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Royal Bank of Canada upped their price target on Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. National Bankshares dropped their price objective on Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Citigroup upped their target price on Ovintiv from $52.00 to $58.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. raised Ovintiv from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $61.00 to $58.00 in a research note on Wednesday, December 6th.

Check Out Our Latest Stock Report on Ovintiv

Ovintiv Stock Up 0.8 %

NYSE OVV opened at $52.51 on Wednesday. The business has a fifty day moving average price of $47.01 and a 200 day moving average price of $45.76. Ovintiv has a one year low of $32.07 and a one year high of $52.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $14.12 billion, a P/E ratio of 6.66 and a beta of 2.65.

Ovintiv (NYSE:OVVGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $2.75 billion. Research analysts anticipate that Ovintiv will post 5.95 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.29%. Ovintiv’s payout ratio is 15.21%.

Insider Buying and Selling at Ovintiv

In other news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the sale, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the sale, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction on Friday, March 1st. The stock was sold at an average price of $50.65, for a total value of $471,045.00. Following the sale, the executive vice president now directly owns 52,557 shares of the company’s stock, valued at $2,662,012.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,564 shares of company stock worth $4,660,818. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC raised its holdings in Ovintiv by 151.3% during the 4th quarter. Quent Capital LLC now owns 583 shares of the company’s stock worth $26,000 after purchasing an additional 351 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Ovintiv by 107.6% in the third quarter. Loomis Sayles & Co. L P now owns 658 shares of the company’s stock worth $31,000 after acquiring an additional 341 shares during the period. Avalon Trust Co bought a new stake in shares of Ovintiv during the 4th quarter valued at $34,000. Penserra Capital Management LLC purchased a new position in shares of Ovintiv in the 3rd quarter worth $36,000. Finally, Quantbot Technologies LP bought a new stake in shares of Ovintiv in the 3rd quarter valued at about $38,000. 83.81% of the stock is owned by institutional investors and hedge funds.

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. 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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Analyst Recommendations for Ovintiv (NYSE:OVV)

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