Ovintiv Inc. (NYSE:OVV) Receives Average Rating of "Moderate Buy" from Analysts

Ovintiv Inc. (NYSE:OVV - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $57.00.

A number of brokerages have issued reports on OVV. Scotiabank lifted their price target on Ovintiv from $58.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Friday, July 12th. Wolfe Research started coverage on Ovintiv in a research note on Thursday, July 18th. They set an "outperform" rating and a $65.00 target price for the company. Evercore ISI dropped their price target on shares of Ovintiv from $60.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, September 30th. Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley dropped their target price on shares of Ovintiv from $53.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th.

Institutional Trading of Ovintiv

Hedge funds and other institutional investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Ovintiv in the second quarter valued at about $39,000. Geneos Wealth Management Inc. boosted its stake in shares of Ovintiv by 53.4% in the first quarter. Geneos Wealth Management Inc. now owns 862 shares of the company's stock valued at $45,000 after buying an additional 300 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after buying an additional 286 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Ovintiv during the second quarter worth $69,000. Finally, Atlas Capital Advisors LLC purchased a new position in Ovintiv in the first quarter worth $74,000. Hedge funds and other institutional investors own 83.81% of the company's stock.

Ovintiv Stock Down 1.3 %

Ovintiv stock traded down $0.52 during trading on Friday, reaching $40.79. The stock had a trading volume of 2,459,489 shares, compared to its average volume of 4,421,319. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.47. Ovintiv has a 52-week low of $36.90 and a 52-week high of $55.95. The stock has a market cap of $10.75 billion, a PE ratio of 5.75, a P/E/G ratio of 8.23 and a beta of 2.61. The business has a 50 day moving average price of $41.42 and a 200 day moving average price of $46.15.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.53 billion. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. On average, analysts predict that Ovintiv will post 4.83 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.30 per share. The ex-dividend date was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.94%. Ovintiv's payout ratio is currently 16.93%.

About Ovintiv

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.