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


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Ovintiv Inc. (NYSE:OVV) has earned a consensus rating of “Hold” from the twenty-seven brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $13.80.

Several research firms have recently weighed in on OVV. Zacks Investment Research upgraded Ovintiv from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, December 29th. TD Securities raised their price target on shares of Ovintiv from $9.00 to $9.50 and gave the company a “hold” rating in a report on Thursday, October 29th. National Bank Financial boosted their price objective on shares of Ovintiv from $15.00 to $15.50 and gave the company an “outperform” rating in a report on Friday, October 16th. MKM Partners raised their target price on shares of Ovintiv from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Finally, ValuEngine raised shares of Ovintiv from a “sell” rating to a “hold” rating in a research report on Friday, October 2nd.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Ovintiv by 1,910.2% in the second quarter. Vanguard Group Inc. now owns 24,858,427 shares of the company’s stock worth $237,398,000 after purchasing an additional 23,621,796 shares in the last quarter. State Street Corp boosted its holdings in Ovintiv by 113.5% in the 3rd quarter. State Street Corp now owns 10,423,052 shares of the company’s stock worth $85,052,000 after buying an additional 5,540,802 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Ovintiv by 8.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 6,384,389 shares of the company’s stock worth $52,164,000 after buying an additional 494,429 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Ovintiv by 8.1% during the second quarter. Two Sigma Advisers LP now owns 3,142,489 shares of the company’s stock valued at $30,011,000 after acquiring an additional 235,600 shares during the period. Finally, Morgan Stanley lifted its position in shares of Ovintiv by 205.3% in the third quarter. Morgan Stanley now owns 2,235,448 shares of the company’s stock valued at $18,241,000 after acquiring an additional 1,503,212 shares in the last quarter. 71.83% of the stock is currently owned by institutional investors and hedge funds.

NYSE:OVV opened at $17.39 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $4.52 billion, a P/E ratio of -1.18 and a beta of 4.09. Ovintiv has a fifty-two week low of $2.10 and a fifty-two week high of $22.20. The firm has a 50-day simple moving average of $14.37 and a two-hundred day simple moving average of $11.51.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results on Wednesday, October 28th. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.13. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.38 billion. Ovintiv had a negative net margin of 56.12% and a positive return on equity of 3.58%. On average, equities research analysts predict that Ovintiv will post -0.26 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 31st. Investors of record on Tuesday, December 15th were paid a dividend of $0.094 per share. The ex-dividend date of this dividend was Monday, December 14th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.16%. Ovintiv’s dividend payout ratio (DPR) is presently 11.55%.

About Ovintiv

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. 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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