Analysts’ Recent Ratings Changes for Ovintiv (OVV)

A number of research firms have changed their ratings and price targets for Ovintiv (NYSE: OVV):

• 4/12/2024 – Ovintiv had its price target raised by analysts at Jefferies Financial Group Inc. from $59.00 to $69.00. They now have a “buy” rating on the stock.
• 4/11/2024 – Ovintiv had its price target raised by analysts at UBS Group AG from $62.00 to $69.00. They now have a “buy” rating on the stock.
• 4/10/2024 – Ovintiv is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $69.00 price target on the stock.
• 4/4/2024 – Ovintiv had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $58.00 price target on the stock.
• 3/28/2024 – Ovintiv had its price target raised by analysts at Morgan Stanley from $48.00 to $49.00. They now have an “equal weight” rating on the stock.
• 3/26/2024 – Ovintiv had its price target raised by analysts at The Goldman Sachs Group, Inc. from $47.00 to $56.00. They now have a “neutral” rating on the stock.
• 3/22/2024 – Ovintiv had its price target lowered by analysts at Mizuho from $59.00 to $58.00. They now have a “buy” rating on the stock.
• 3/18/2024 – Ovintiv had its price target raised by analysts at Citigroup Inc. from $52.00 to $58.00. They now have a “buy” rating on the stock.
• 2/29/2024 – Ovintiv had its price target raised by analysts at Royal Bank of Canada from $48.00 to $49.00. They now have a “sector perform” rating on the stock.

Ovintiv Stock Performance

OVV stock opened at $53.74 on Monday. The stock has a market cap of $14.45 billion, a P/E ratio of 6.81 and a beta of 2.65. The firm has a 50 day simple moving average of $48.98 and a 200 day simple moving average of $46.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.60 and a current ratio of 0.60. Ovintiv Inc. has a 52 week low of $32.07 and a 52 week high of $55.95.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.75 billion. Research analysts anticipate that Ovintiv Inc. will post 6.25 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s dividend payout ratio (DPR) is currently 15.21%.

Insider Buying and Selling

In related news, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the transaction, the director now owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Ovintiv news, EVP Renee Ellen Zemljak sold 76,264 shares of Ovintiv stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the sale, the executive vice president now owns 23,672 shares in the company, valued at $1,206,325.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard John Mayson sold 6,000 shares of Ovintiv 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 sale, the director now owns 36,840 shares in the company, valued at approximately $1,862,630.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,564 shares of company stock valued at $4,660,818. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ovintiv

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Ovintiv by 7.5% during the first quarter. GAMMA Investing LLC now owns 3,170 shares of the company’s stock worth $165,000 after buying an additional 220 shares in the last quarter. Xponance Inc. boosted its stake in shares of Ovintiv by 0.6% in the 3rd quarter. Xponance Inc. now owns 41,823 shares of the company’s stock valued at $1,990,000 after purchasing an additional 240 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Ovintiv by 0.3% in the 3rd quarter. LPL Financial LLC now owns 89,668 shares of the company’s stock valued at $4,265,000 after purchasing an additional 261 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Ovintiv by 20.5% in the 4th quarter. Blue Trust Inc. now owns 1,667 shares of the company’s stock valued at $80,000 after purchasing an additional 284 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Ovintiv by 1.7% in the 3rd quarter. Signaturefd LLC now owns 19,093 shares of the company’s stock valued at $908,000 after purchasing an additional 317 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

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.