Ovintiv Inc. (NYSE:OVV) Given Average Rating of “Moderate Buy” by Analysts

Shares of Ovintiv Inc. (NYSE:OVV) have been given an average rating of “Moderate Buy” by the twenty research firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $51.8889.

OVV has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Ovintiv from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Citigroup dropped their target price on Ovintiv from $54.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Wells Fargo & Company raised their price target on Ovintiv from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 18th. UBS Group boosted their price objective on Ovintiv from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Royal Bank Of Canada set a $55.00 target price on shares of Ovintiv and gave the stock an “outperform” rating in a report on Wednesday, October 15th.

Ovintiv Stock Up 0.4%

OVV opened at $38.03 on Friday. The firm has a market capitalization of $9.63 billion, a P/E ratio of 41.79, a price-to-earnings-growth ratio of 1.65 and a beta of 0.77. Ovintiv has a one year low of $29.80 and a one year high of $46.35. The company has a fifty day moving average price of $38.74 and a 200-day moving average price of $39.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.45 and a quick ratio of 0.45.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Equities research analysts expect that Ovintiv will post 5.59 earnings per share for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. Ovintiv’s payout ratio is 131.87%.

Insider Transactions at Ovintiv

In related news, COO Gregory Dean Givens sold 50,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the transaction, the chief operating officer owned 105,867 shares in the company, valued at $4,269,616.11. The trade was a 32.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in shares of Ovintiv by 211.9% in the third quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock worth $205,000 after buying an additional 3,441 shares in the last quarter. IFP Advisors Inc lifted its position in Ovintiv by 58.4% in the 3rd quarter. IFP Advisors Inc now owns 1,340 shares of the company’s stock valued at $54,000 after acquiring an additional 494 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Ovintiv by 258.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,576 shares of the company’s stock valued at $64,000 after acquiring an additional 1,136 shares in the last quarter. Caerus Investment Advisors LLC purchased a new stake in Ovintiv during the 3rd quarter valued at $629,000. Finally, Captrust Financial Advisors increased its holdings in shares of Ovintiv by 237.9% in the 3rd quarter. Captrust Financial Advisors now owns 39,689 shares of the company’s stock worth $1,603,000 after purchasing an additional 27,942 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.