Ovintiv (NYSE:OVV) Now Covered by Analysts at Barclays

Barclays began coverage on shares of Ovintiv (NYSE:OVVFree Report) in a research note issued to investors on Wednesday, Marketbeat reports. The firm issued an overweight rating and a $69.00 target price on the stock.

Several other equities research analysts also recently weighed in on OVV. Wells Fargo & Company decreased their target price on Ovintiv from $46.00 to $44.00 and set an equal weight rating for the company in a research report on Wednesday, January 17th. National Bankshares decreased their target price on Ovintiv from $69.00 to $53.00 and set an outperform rating for the company in a research report on Wednesday, January 10th. Citigroup upped their target price on Ovintiv from $52.00 to $58.00 and gave the stock a buy rating in a research report on Monday, March 18th. Royal Bank of Canada upped their target price on Ovintiv from $48.00 to $49.00 and gave the stock a sector perform rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group upped their target price on Ovintiv from $47.00 to $56.00 and gave the stock a neutral rating in a research report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $56.47.

Get Our Latest Stock Report on OVV

Ovintiv Price Performance

Shares of Ovintiv stock opened at $53.76 on Wednesday. Ovintiv has a twelve month low of $32.07 and a twelve month high of $55.95. The stock has a market capitalization of $14.46 billion, a P/E ratio of 6.81 and a beta of 2.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53. The business’s fifty day moving average price is $48.98 and its 200 day moving average price is $46.25.

Ovintiv (NYSE:OVVGet Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.41. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.75 billion. As a group, research analysts anticipate that Ovintiv will post 6.25 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, March 14th. Ovintiv’s payout ratio is currently 15.21%.

Insider Buying and Selling at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the sale, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the sale, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rachel Maureen Moore sold 9,300 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $50.65, for a total value of $471,045.00. Following the sale, the executive vice president now owns 52,557 shares in the company, valued at approximately $2,662,012.05. The disclosure for this sale can be found here. Insiders have sold 91,564 shares of company stock worth $4,660,818 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Ovintiv

A number of institutional investors and hedge funds have recently made changes to their positions in OVV. Raymond James & Associates raised its position in shares of Ovintiv by 35.3% during the 1st quarter. Raymond James & Associates now owns 57,458 shares of the company’s stock worth $3,107,000 after purchasing an additional 14,978 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ovintiv during the 1st quarter worth approximately $525,000. HighTower Advisors LLC acquired a new stake in shares of Ovintiv during the 1st quarter worth approximately $715,000. Cetera Advisor Networks LLC acquired a new stake in shares of Ovintiv during the 1st quarter worth approximately $224,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Ovintiv by 45.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,605 shares of the company’s stock worth $843,000 after purchasing an additional 4,895 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Ovintiv (NYSE:OVV)

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