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

Ovintiv Inc. (NYSE:OVV - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eighteen ratings firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $57.00.

Several research analysts recently commented on OVV shares. Siebert Williams Shank raised Ovintiv to a "strong-buy" rating in a research note on Tuesday, October 15th. Evercore ISI dropped their target price on shares of Ovintiv from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Citigroup dropped their target price on shares of Ovintiv from $58.00 to $55.00 and set a "buy" rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. dropped their target price on shares of Ovintiv from $60.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, September 12th. Finally, Royal Bank of Canada dropped their target price on shares of Ovintiv from $62.00 to $61.00 and set a "sector perform" rating for the company in a report on Thursday, August 1st.

Ovintiv Price Performance

Shares of OVV traded up $1.63 during mid-day trading on Thursday, hitting $43.84. 2,846,426 shares of the company were exchanged, compared to its average volume of 3,067,510. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 7.60 and a beta of 2.62. Ovintiv has a 1-year low of $36.90 and a 1-year high of $55.95. The company has a 50 day moving average of $40.56 and a 200-day moving average of $44.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.74%. Ovintiv's payout ratio is currently 15.92%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Ovintiv during the second quarter worth about $39,000. UMB Bank n.a. raised its holdings in 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 acquiring an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in Ovintiv in the third quarter valued at approximately $65,000. International Assets Investment Management LLC acquired a new stake in Ovintiv in the second quarter valued at approximately $69,000. Finally, Covestor Ltd raised its holdings in Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company's stock valued at $70,000 after acquiring an additional 560 shares in the last quarter. Institutional investors and hedge funds 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.