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

Shares of Ovintiv Inc. (NYSE:OVV) have been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $51.9412.

Several research analysts have recently commented on OVV shares. Barclays reduced their target price on Ovintiv from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Mizuho reduced their price objective on Ovintiv from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Citigroup decreased their target price on Ovintiv from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. UBS Group lifted their price target on Ovintiv from $52.00 to $54.00 and gave the company a “buy” rating in a report on Friday. Finally, Evercore ISI reissued an “outperform” rating and set a $47.00 price objective on shares of Ovintiv in a report on Thursday, November 6th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC boosted its position in Ovintiv by 9.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 5,737 shares of the company’s stock valued at $246,000 after buying an additional 482 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Ovintiv by 2.7% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 125,556 shares of the company’s stock valued at $5,374,000 after acquiring an additional 3,357 shares during the last quarter. Cetera Investment Advisers increased its position in Ovintiv by 27.0% in the first quarter. Cetera Investment Advisers now owns 36,997 shares of the company’s stock worth $1,583,000 after purchasing an additional 7,869 shares during the period. HB Wealth Management LLC acquired a new stake in Ovintiv in the first quarter worth about $241,000. Finally, LPL Financial LLC raised its holdings in Ovintiv by 13.3% during the 1st quarter. LPL Financial LLC now owns 101,389 shares of the company’s stock worth $4,339,000 after purchasing an additional 11,897 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Ovintiv Trading Up 1.1%

Shares of Ovintiv stock opened at $39.00 on Monday. Ovintiv has a 12-month low of $29.80 and a 12-month high of $47.04. The stock has a market capitalization of $9.88 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.89 and a beta of 1.00. The company has a 50-day simple moving average of $38.96 and a 200 day simple moving average of $39.38. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.42.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.86 billion. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. Research analysts expect that Ovintiv will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, December 15th. Ovintiv’s dividend payout ratio is presently 131.87%.

Ovintiv Company Profile

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.