Ovintiv Inc. (OVV) – What Are Investment Firms Saying About This Stock?

Shares of Ovintiv Inc. (NYSE:OVV) have been given a consensus rating of “Moderate Buy” by the twenty-five brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $70.86.

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Ovintiv from $79.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 14th. Weiss Ratings raised shares of Ovintiv from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. UBS Group reissued a “buy” rating and set a $85.00 target price on shares of Ovintiv in a research report on Monday, September 14th. Wall Street Zen upgraded shares of Ovintiv from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. Finally, Roth Capital boosted their price target on shares of Ovintiv from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th.

Insider Buying and Selling at Ovintiv

In related 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 owned 72,530 shares of the company’s stock, valued at $4,592,599.60. This trade represents a 9.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ovintiv

Several hedge funds and other institutional investors have recently bought and sold shares of OVV. IFP Advisors Inc boosted its position in shares of Ovintiv by 69.0% during the 3rd quarter. IFP Advisors Inc now owns 1,764 shares of the company’s stock worth $102,000 after purchasing an additional 720 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Ovintiv in the 3rd quarter valued at about $129,000. Vontobel Holding Ltd. increased its position in Ovintiv by 6.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 86,000 shares of the company’s stock valued at $4,972,000 after buying an additional 5,000 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Ovintiv by 5.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 78,525 shares of the company’s stock valued at $4,657,000 after buying an additional 3,726 shares in the last quarter. Finally, Michael J. Porro & Co. Financial Advisors Inc. bought a new stake in Ovintiv in the 3rd quarter valued at about $215,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Stock Up 1.0%

Shares of OVV opened at $70.05 on Thursday. The stock’s 50-day moving average price is $63.73 and its two-hundred day moving average price is $59.57. Ovintiv has a 12 month low of $35.47 and a 12 month high of $70.14. The company has a market capitalization of $19.30 billion, a PE ratio of 11.26 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32.

Ovintiv (NYSE:OVV) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.20). The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.37 billion. Ovintiv had a net margin of 9.43% and a return on equity of 14.84%. On average, analysts anticipate that Ovintiv will post 7.54 EPS for the current year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Ovintiv’s dividend payout ratio is 33.90%.

About Ovintiv

Ovintiv Inc is an independent energy company engaged in the exploration, development, production and marketing of oil, condensate, natural gas liquids and natural gas. The company’s operations are focused on North America, with production and resource development activities in the United States and Canada.

Ovintiv’s U.S. operations include assets in the Permian Basin of Texas and New Mexico and the Uinta Basin of Utah. In Canada, the company’s portfolio includes the Montney and Horn River natural gas and liquids-rich plays in British Columbia and Alberta.