Ovintiv (NYSE:OVV – Free Report) had its target price boosted by Truist Financial from $60.00 to $62.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the stock.
OVV has been the subject of a number of other research reports. Wolfe Research initiated coverage on shares of Ovintiv in a research note on Thursday, July 18th. They issued an outperform rating and a $65.00 price objective for the company. Barclays initiated coverage on shares of Ovintiv in a research note on Wednesday, April 10th. They issued an overweight rating and a $69.00 price objective for the company. UBS Group raised their price objective 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. Bank of America reaffirmed a neutral rating and issued a $55.00 price objective on shares of Ovintiv in a research note on Friday, June 14th. Finally, Wells Fargo & Company decreased their target price on shares of Ovintiv from $52.00 to $51.00 and set an equal weight rating for the company in a research note on Thursday. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ovintiv currently has a consensus rating of Moderate Buy and an average target price of $61.06.
Ovintiv Trading Down 6.5 %
Ovintiv stock opened at $41.59 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.52 and a current ratio of 0.44. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of 5.81, a price-to-earnings-growth ratio of 7.30 and a beta of 2.63. Ovintiv has a 1 year low of $39.68 and a 1 year high of $55.95. The firm’s 50 day moving average price is $47.16 and its two-hundred day moving average price is $48.14.
Ovintiv (NYSE:OVV – Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Ovintiv had a net margin of 18.56% and a return on equity of 18.28%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.58 billion. On average, research analysts predict that Ovintiv will post 5.69 EPS for the current fiscal year.
Ovintiv Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, September 13th. Ovintiv’s payout ratio is presently 16.76%.
Insider Activity at Ovintiv
In related news, Director Steven W. Nance sold 12,000 shares of Ovintiv 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 of the company’s stock, valued at approximately $446,450. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Howard John Mayson sold 4,000 shares of Ovintiv 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 transaction, the director now owns 45,279 shares in the company, valued at approximately $2,315,568.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven W. Nance sold 12,000 shares of Ovintiv stock in a transaction on Monday, May 13th. The stock was sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director now owns 8,929 shares in the company, valued at approximately $446,450. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. American National Bank bought a new position in Ovintiv in the 1st quarter worth $27,000. Avalon Trust Co bought a new position in Ovintiv in the 4th quarter worth $34,000. Innealta Capital LLC bought a new position in Ovintiv in the 2nd quarter worth $39,000. Geneos Wealth Management Inc. raised its holdings in Ovintiv by 53.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock worth $45,000 after acquiring an additional 300 shares during the period. Finally, Atlas Capital Advisors LLC bought a new position in shares of Ovintiv during the 1st quarter worth about $74,000. Institutional investors own 83.81% of the company’s stock.
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.
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