Ovintiv (NYSE:OVV) Price Target Increased to $66.00 by Analysts at TD Cowen

Ovintiv (NYSE:OVVFree Report) had its price target increased by TD Cowen from $64.00 to $66.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Ovintiv from $47.00 to $56.00 and gave the company a neutral rating in a research note on Tuesday, March 26th. Citigroup boosted their price target on shares of Ovintiv from $52.00 to $58.00 and gave the company a buy rating in a research note on Monday, March 18th. Mizuho upped their target price on shares of Ovintiv from $58.00 to $64.00 and gave the stock a buy rating in a research note on Monday, May 13th. UBS Group upped their target price on shares of Ovintiv from $69.00 to $70.00 and gave the stock a buy rating in a research note on Wednesday, May 15th. Finally, Jefferies Financial Group upped their target price on shares of Ovintiv from $59.00 to $69.00 and gave the stock a buy rating in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $58.06.

Get Our Latest Report on Ovintiv

Ovintiv Price Performance

Shares of OVV stock opened at $46.83 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.52 and a quick ratio of 0.52. The firm’s 50-day moving average is $50.86 and its two-hundred day moving average is $47.22. Ovintiv has a 12 month low of $34.50 and a 12 month high of $55.95. The company has a market capitalization of $12.50 billion, a PE ratio of 6.54 and a beta of 2.58.

Ovintiv (NYSE:OVVGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.58 billion. Ovintiv had a net margin of 18.12% and a return on equity of 17.74%. Analysts predict that Ovintiv will post 6.15 earnings per share for the current year.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, June 14th. Ovintiv’s payout ratio is 16.76%.

Insider Activity at Ovintiv

In related news, Director Steven W. Nance sold 12,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $50.00, for a total value of $600,000.00. Following the completion of the sale, the director now owns 8,929 shares in the company, valued at approximately $446,450. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Howard John Mayson sold 4,000 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $51.14, for a total value of $204,560.00. Following the completion of the sale, the director now owns 45,279 shares in the company, valued at approximately $2,315,568.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Nance sold 12,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the sale, the director now owns 8,929 shares of the company’s stock, valued at approximately $446,450. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Ovintiv

Large investors have recently bought and sold shares of the company. Westfield Capital Management Co. LP raised its position in Ovintiv by 3.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,447,248 shares of the company’s stock worth $63,563,000 after buying an additional 44,241 shares during the last quarter. TD Asset Management Inc raised its position in Ovintiv by 176.3% during the 4th quarter. TD Asset Management Inc now owns 46,149 shares of the company’s stock worth $2,027,000 after buying an additional 29,449 shares during the last quarter. International Assets Investment Management LLC raised its position in Ovintiv by 1,202.0% during the 4th quarter. International Assets Investment Management LLC now owns 13,879 shares of the company’s stock worth $610,000 after buying an additional 12,813 shares during the last quarter. Toronto Dominion Bank raised its position in Ovintiv by 15.5% during the 3rd quarter. Toronto Dominion Bank now owns 761,303 shares of the company’s stock worth $36,215,000 after buying an additional 101,978 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Ovintiv by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock worth $1,285,816,000 after buying an additional 2,484,554 shares during the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Ovintiv (NYSE:OVV)

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