Ovintiv (NYSE:OVV) had its target price raised by research analysts at UBS Group from $10.00 to $17.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 78.01% from the stock’s current price.
Several other brokerages have also recently issued reports on OVV. National Bank Financial increased their target price on shares of Ovintiv from $7.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Mizuho raised shares of Ovintiv from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $5.00 to $12.00 in a research report on Friday, June 19th. Goldman Sachs Group lowered shares of Ovintiv from a “buy” rating to a “neutral” rating and set a $2.25 price objective for the company. in a research report on Monday, March 16th. TD Securities increased their price objective on shares of Ovintiv from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Finally, SunTrust Banks increased their price objective on shares of Ovintiv from $7.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, June 19th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $13.21.
Ovintiv stock opened at $9.55 on Monday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 2.85, a price-to-earnings-growth ratio of 1.88 and a beta of 3.98. The company’s fifty day simple moving average is $8.79. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.69. Ovintiv has a 52-week low of $2.10 and a 52-week high of $28.75.
Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.08). Ovintiv had a net margin of 11.06% and a return on equity of 7.21%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. As a group, sell-side analysts anticipate that Ovintiv will post 0.6 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Davis Selected Advisers purchased a new position in shares of Ovintiv during the 1st quarter worth $20,137,000. Phoenix Holdings Ltd. acquired a new position in shares of Ovintiv during the first quarter worth about $7,885,000. Two Sigma Advisers LP acquired a new position in shares of Ovintiv during the first quarter worth about $7,849,000. Wellington Management Group LLP acquired a new position in Ovintiv in the first quarter valued at approximately $7,476,000. Finally, Morgan Stanley acquired a new position in Ovintiv in the first quarter valued at approximately $3,728,000. Institutional investors own 55.80% of the company’s stock.
Ovintiv Company Profile
There is no company description available for Ovintiv Inc
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