Ovintiv’s (OVV) Outperform Rating Reaffirmed at Evercore ISI

Evercore ISI restated their outperform rating on shares of Ovintiv (NYSE:OVVFree Report) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $60.00 price objective on the stock.

OVV has been the subject of a number of other research reports. Morgan Stanley upped their price target on Ovintiv from $49.00 to $53.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Citigroup upped their price target on Ovintiv from $52.00 to $58.00 and gave the stock a buy rating in a research report on Monday, March 18th. Mizuho upped their price target on Ovintiv from $58.00 to $64.00 and gave the stock a buy rating in a research report on Monday, May 13th. TD Cowen upped their price target on Ovintiv from $64.00 to $66.00 and gave the stock a buy rating in a research report on Monday, June 10th. Finally, Jefferies Financial Group upped their price target on Ovintiv from $59.00 to $69.00 and gave the stock a buy rating in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Ovintiv presently has a consensus rating of Moderate Buy and a consensus price target of $58.65.

Check Out Our Latest Analysis on Ovintiv

Ovintiv Trading Up 1.9 %

Shares of NYSE:OVV opened at $47.35 on Wednesday. The company has a market cap of $12.64 billion, a P/E ratio of 6.61 and a beta of 2.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv has a 1 year low of $37.92 and a 1 year high of $55.95. The stock’s fifty day moving average price is $48.37 and its 200-day moving average price is $47.73.

Ovintiv (NYSE:OVVGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Ovintiv had a return on equity of 17.74% and a net margin of 18.12%. Sell-side analysts expect that Ovintiv will post 6.12 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Friday, June 14th. Ovintiv’s payout ratio is currently 16.76%.

Insider Activity at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction on Friday, May 31st. The stock was sold at an average price of $51.14, for a total transaction of $204,560.00. Following the completion of the sale, the director now directly owns 45,279 shares of the company’s stock, valued at approximately $2,315,568.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Ovintiv news, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction on Monday, May 13th. The stock was sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the sale, the director now directly owns 8,929 shares of the company’s stock, valued at approximately $446,450. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction on Friday, May 31st. The shares were sold at an average price of $51.14, for a total value of $204,560.00. Following the sale, the director now directly owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Ovintiv by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock worth $1,456,072,000 after acquiring an additional 1,024,931 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ovintiv by 6.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,639,579 shares of the company’s stock worth $115,937,000 after acquiring an additional 168,320 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ovintiv by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,676,420 shares of the company’s stock worth $73,628,000 after acquiring an additional 68,718 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Ovintiv in the 4th quarter worth $67,149,000. Finally, Balyasny Asset Management L.P. raised its position in shares of Ovintiv by 1,560.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,451,240 shares of the company’s stock worth $63,738,000 after acquiring an additional 1,363,865 shares in the last quarter. 83.81% of the stock is owned by institutional investors.

Ovintiv Company Profile

(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.

Featured Articles

Analyst Recommendations for Ovintiv (NYSE:OVV)

Receive News & Ratings for Ovintiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovintiv and related companies with MarketBeat.com's FREE daily email newsletter.