Ovintiv (NYSE:OVV) Price Target Raised to $57.00 at Barclays

Ovintiv (NYSE:OVV) had its price objective lifted by research analysts at Barclays from $53.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 30.17% from the company’s previous close.

Several other equities research analysts have also commented on OVV. Truist Financial cut their target price on Ovintiv from $62.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Mizuho cut their price target on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Evercore ISI cut their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. UBS Group cut their price target on Ovintiv from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. cut their price target on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Ovintiv Trading Down 2.1 %

Shares of OVV stock opened at $43.79 on Friday. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 7.64 and a beta of 2.62. The stock has a 50-day moving average of $40.71 and a 200-day moving average of $44.45. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv has a 1-year low of $36.90 and a 1-year high of $55.95.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. True Wealth Design LLC increased its holdings in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after purchasing an additional 636 shares during the period. Innealta Capital LLC purchased a new position in Ovintiv during the 2nd quarter valued at about $39,000. UMB Bank n.a. increased its holdings in Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares during the period. International Assets Investment Management LLC purchased a new position in Ovintiv during the 2nd quarter valued at about $69,000. Finally, Covestor Ltd increased its holdings in Ovintiv by 23.1% during the 1st quarter. Covestor Ltd now owns 1,559 shares of the company’s stock valued at $81,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

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.