Raymond James Lowers Ovintiv (NYSE:OVV) Price Target to $25.00


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Ovintiv (NYSE:OVV) had its target price decreased by Raymond James from $30.00 to $25.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. Raymond James’ price target would indicate a potential upside of 14.68% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. TD Securities lifted their price objective on shares of Ovintiv from $18.50 to $24.00 and gave the stock a “hold” rating in a report on Thursday, February 18th. Morgan Stanley upgraded shares of Ovintiv from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $35.00 in a research report on Tuesday, March 30th. Zacks Investment Research cut shares of Ovintiv from a “strong-buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research report on Tuesday, April 13th. Barclays lifted their target price on shares of Ovintiv from $13.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, January 14th. Finally, The Goldman Sachs Group upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $26.75 to $29.00 in a research report on Monday, March 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.04.

Shares of NYSE:OVV opened at $21.80 on Monday. The firm has a fifty day moving average price of $25.14 and a two-hundred day moving average price of $17.85. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.70 and a quick ratio of 0.70. Ovintiv has a one year low of $3.43 and a one year high of $28.69. The company has a market cap of $5.66 billion, a price-to-earnings ratio of -1.03 and a beta of 4.00.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Wednesday, February 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Ovintiv had a negative net margin of 89.63% and a positive return on equity of 1.56%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.69 billion. Equities research analysts expect that Ovintiv will post 0.17 EPS for the current fiscal year.

In other news, EVP Joanne Linette Alexander sold 7,759 shares of the firm’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $24.30, for a total value of $188,543.70. Company insiders own 1.28% of the company’s stock.

A number of hedge funds have recently bought and sold shares of OVV. Steward Partners Investment Advisory LLC increased its position in Ovintiv by 3,125.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,064 shares of the company’s stock valued at $30,000 after buying an additional 2,000 shares in the last quarter. Captrust Financial Advisors increased its position in Ovintiv by 2,631.6% during the 4th quarter. Captrust Financial Advisors now owns 2,076 shares of the company’s stock valued at $30,000 after buying an additional 2,000 shares in the last quarter. Royal London Asset Management Ltd. bought a new position in Ovintiv during the 4th quarter valued at approximately $37,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Ovintiv in the 3rd quarter worth $104,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Ovintiv in the 4th quarter worth $192,000. 70.04% of the stock is owned by institutional investors.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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Analyst Recommendations for Ovintiv (NYSE:OVV)

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