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

Shares of Ovintiv Inc. (NYSE:OVV) have been given an average rating of “Moderate Buy” by the nineteen ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $52.00.

OVV has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Ovintiv in a research note on Wednesday. The Goldman Sachs Group raised Ovintiv from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $47.00 to $51.00 in a research note on Tuesday, July 1st. Morgan Stanley set a $48.00 target price on Ovintiv and gave the stock an “equal weight” rating in a research note on Monday, August 18th. Royal Bank Of Canada reissued a “sector perform” rating and set a $55.00 target price on shares of Ovintiv in a research note on Friday, September 26th. Finally, Scotiabank boosted their target price on Ovintiv from $48.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OVV. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ovintiv by 198.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,622 shares of the company’s stock valued at $1,605,000 after buying an additional 26,366 shares during the period. GAMMA Investing LLC increased its stake in shares of Ovintiv by 7,266.9% in the first quarter. GAMMA Investing LLC now owns 237,583 shares of the company’s stock valued at $10,169,000 after buying an additional 234,358 shares during the period. Merit Financial Group LLC increased its stake in shares of Ovintiv by 221.7% in the first quarter. Merit Financial Group LLC now owns 26,480 shares of the company’s stock valued at $1,133,000 after buying an additional 18,248 shares during the period. Gateway Investment Advisers LLC increased its stake in shares of Ovintiv by 30.4% in the first quarter. Gateway Investment Advisers LLC now owns 13,208 shares of the company’s stock valued at $565,000 after buying an additional 3,078 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Ovintiv by 16.9% in the first quarter. UMB Bank n.a. now owns 2,890 shares of the company’s stock valued at $124,000 after buying an additional 417 shares during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Trading Down 5.7%

OVV opened at $36.92 on Friday. Ovintiv has a twelve month low of $29.80 and a twelve month high of $47.18. The company has a 50-day simple moving average of $40.73 and a 200 day simple moving average of $38.83. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 5.21 and a beta of 0.97.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Thursday, July 24th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.02). The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.92 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. Analysts predict that Ovintiv will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. Ovintiv’s dividend payout ratio is currently 53.10%.

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.