Ovintiv (NYSE:OVV) Price Target Raised to $75.00

Ovintiv (NYSE:OVV) had its price target upped by Scotia from $70.00 to $75.00 in a research note published on Friday morning,BayStreet reports. They currently have a sector outperform rating on the stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley set a $67.00 target price on shares of Ovintiv in a research report on Wednesday, August 19th. National Bank Financial boosted their price objective on shares of Ovintiv from $83.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 30th. Texas Capital raised Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Citigroup increased their price objective on Ovintiv from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company boosted their price objective on Ovintiv from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.67.

Ovintiv Stock Performance

Shares of NYSE:OVV opened at $60.30 on Friday. Ovintiv has a twelve month low of $35.47 and a twelve month high of $67.51. The firm has a market cap of $16.61 billion, a PE ratio of 17.03 and a beta of 0.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.01. The business has a fifty day moving average of $62.79 and a 200-day moving average of $59.08.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.20). Ovintiv had a net margin of 9.43% and a return on equity of 14.84%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.37 billion. On average, equities research analysts predict that Ovintiv will post 7.29 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, September 15th. Ovintiv’s dividend payout ratio is 33.90%.

Insider Transactions at Ovintiv

In other Ovintiv news, EVP Rachel Moore sold 7,753 shares of Ovintiv stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total transaction of $490,919.96. Following the completion of the transaction, the executive vice president directly owned 72,530 shares of the company’s stock, valued at $4,592,599.60. The trade was a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ovintiv

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Ovintiv during the 2nd quarter worth about $1,422,959,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Ovintiv by 16.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,880,705 shares of the company’s stock worth $467,874,000 after buying an additional 1,137,162 shares during the period. Millennium Management LLC grew its stake in Ovintiv by 116.3% in the 4th quarter. Millennium Management LLC now owns 5,692,806 shares of the company’s stock valued at $223,101,000 after buying an additional 3,060,691 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Ovintiv by 8.8% in the 1st quarter. Bank of New York Mellon Corp now owns 2,945,692 shares of the company’s stock valued at $174,856,000 after buying an additional 239,054 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Ovintiv by 119.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,717,400 shares of the company’s stock valued at $90,421,000 after acquiring an additional 935,860 shares during the period. 83.81% of the stock is owned by institutional investors.

Ovintiv News Roundup

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Scotia raised its price target to $75 from $70 and upgraded its view to “sector outperform.” The new target implies approximately 24% upside from the referenced price, signaling stronger confidence in Ovintiv’s valuation and operating outlook.
• Positive Sentiment: Ovintiv renewed its annual share-repurchase program after receiving TSX approval. The program supports the company’s commitment to return 50% to 100% of annual non-GAAP free cash flow through dividends and buybacks, potentially boosting per-share value and signaling management’s confidence in cash generation. Ovintiv Renews Annual Share Buy-Back Program
• Positive Sentiment: National Bank Financial reportedly expects Ovintiv’s stock to rise, adding another constructive analyst view, although the available report does not provide specific target or forecast details. Ovintiv Stock Price Expected to Rise, National Bank Financial Analyst Says
• Neutral Sentiment: Zacks Research modestly increased multiple EPS estimates, including forecasts for fiscal 2026, fiscal 2027, fiscal 2028 and several quarterly periods. However, Zacks maintained a “Hold” rating, so the revisions indicate improving expectations but not a strong change in overall recommendation.
• Neutral Sentiment: Director Howard John Mayson acquired 50 deferred share units during the third quarter. The transaction offers a modest insider-alignment signal, though deferred share units are generally tied to director compensation and are not equivalent to a large open-market purchase. Ovintiv Director Acquires 50 Deferred Share Units

About Ovintiv

Ovintiv Inc (NYSE: OVV) is an energy company engaged in the exploration, development, production and operation of oil and natural gas properties. Its production includes crude oil, condensate, plant condensate, natural gas liquids and natural gas.

The company’s operations are concentrated in North America, with core assets in the Permian Basin, Uinta Basin and Anadarko Basin in the United States, as well as the Montney region in western Canada. Ovintiv also owns and operates related processing, gathering and other midstream infrastructure that supports the production and transportation of its energy products.

Ovintiv was formerly known as Encana Corporation and adopted its current name in 2020.