Ovintiv (OVV) Stock Forecast & Price Target

C$63.91 +1.57 (+2.52%)

(As of 11/20/2024 ET)

Ovintiv - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Buy

Based on 5 Analyst Ratings

Sell
0

Hold
1

Buy
4

Based on 5 Wall Street analysts who have issued ratings for Ovintiv in the last 12 months, the stock has a consensus rating of "Buy." Out of the 5 analysts, 1 has given a hold rating, 1 has given a buy rating, and 3 have given a strong buy rating for OVV.

Consensus Price Target

C$58.50
-8.47% Downside

According to the 5 analysts' twelve-month price targets for Ovintiv, the average price target is C$58.50. The highest price target for OVV is C$68.00, while the lowest price target for OVV is C$49.00. The average price target represents a forecasted downside of -8.47% from the current price of C$63.91.

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OVV Analyst Ratings Over Time

Type	Current Forecast 11/22/23 to 11/21/24	1 Month Ago 10/23/23 to 10/22/24	3 Months Ago 8/24/23 to 8/23/24	1 Year Ago 11/22/22 to 11/22/23
Strong Buy	3 Strong Buy rating(s)	3 Strong Buy rating(s)	2 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	1 Buy rating(s)	1 Buy rating(s)	1 Buy rating(s)	0 Buy rating(s)
Hold	1 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	C$58.50	C$58.50	C$58.50	C$47.00
Forecasted Upside	-8.47% Downside	4.67% Upside	-0.03% Downside	-23.18% Downside
Consensus Rating	Buy	Buy	Buy	Hold

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OVV Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

OVV Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Ovintiv Stock vs. The Competition

Type	Ovintiv	Energy Companies
Consensus Rating Score	3.40	2.80
Consensus Rating	Buy	Moderate Buy
News Sentiment Rating	Neutral News See Recent OVV News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/15/2024	Siebert Williams Shank 5 of 5 stars	G. Sorbara Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/18/2024	Wolfe Research 3 of 5 stars	D. Leggate Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/10/2024	Evercore ISI 2 of 5 stars	S. Richardson Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
4/19/2024	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	C$59.00 ➝ C$68.00	-4.78%
2/29/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Perform	C$48.00 ➝ C$49.00	-26.28%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 06:44 AM ET.

Should I Buy Ovintiv Stock? OVV Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, October 31, 2024. Please send any questions or comments about these Ovintiv pros and cons to contact@marketbeat.com.

Ovintiv
Bull Case

Here are some ways that investors could benefit from investing in Ovintiv Inc.:

Ovintiv Inc. has a low debt-to-equity ratio of 67.70, indicating a strong financial position with lower debt levels compared to equity.
The company has a current ratio of 0.44, showcasing its ability to cover short-term liabilities with its current assets.
Ovintiv Inc. has a history of consistent dividend payouts, providing investors with a steady income stream. The current dividend yield of 3.12% is attractive for income-oriented investors.
Analysts have upgraded Ovintiv Inc.'s rating to "strong-buy," indicating positive sentiment and potential future growth prospects.
Despite hitting a 12-month low, Ovintiv Inc.'s stock price at C$52.28 presents a potential buying opportunity for investors looking to enter at a lower price point.

Ovintiv
Bear Case

Investors should be bearish about investing in Ovintiv Inc. for these reasons:

Ovintiv Inc.'s FY2024 earnings per share estimate has been reduced, indicating potential challenges or uncertainties in the company's financial performance.
The company's stock price has been on a downward trend, hitting a new 12-month low at C$52.23, which may raise concerns about short-term performance.
With a beta of 2.64, Ovintiv Inc. is considered a high-beta stock, which means it is more volatile compared to the overall market, leading to higher risk for investors.
Analysts have revised earnings estimates for Ovintiv Inc., suggesting potential concerns about future profitability and growth prospects.
Ovintiv Inc.'s dividend payout ratio of 17.24% may indicate limited room for dividend growth or reinvestment in the business, potentially impacting long-term shareholder returns.

OVV Forecast - Frequently Asked Questions

: According to the research reports of 5 Wall Street equities research analysts, the average twelve-month stock price forecast for Ovintiv is C$58.50, with a high forecast of C$68.00 and a low forecast of C$49.00.
: 5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Ovintiv in the last year. There is currently 1 hold rating, 1 buy rating and 3 strong buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" OVV shares.
: According to analysts, Ovintiv's stock has a predicted downside of -8.47% based on their 12-month stock forecasts.
: Over the previous 90 days, Ovintiv's stock had 1 upgrade by analysts.
: Ovintiv has been rated by research analysts at Siebert Williams Shank in the past 90 days.
: Analysts like Ovintiv more than other "energy" companies. The consensus rating for Ovintiv is Buy while the average consensus rating for "energy" companies is Moderate Buy. Learn more on how OVV compares to other companies.

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This page (TSE:OVV) was last updated on 11/21/2024 by MarketBeat.com Staff

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Ovintiv (OVV) Stock Forecast & Price Target