Ovintiv Inc. (NYSE:OVV) Receives $56.88 Consensus Price Target from Analysts

Ovintiv Inc. (NYSE:OVV) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $56.88.

A number of research analysts have recently issued reports on OVV shares. Bank of America upgraded shares of Ovintiv from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Mizuho dropped their target price on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. National Bankshares upped their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Truist Financial lifted their price objective on Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Scotiabank upped their target price on Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research report on Monday, November 18th.

Ovintiv Price Performance

Shares of OVV opened at $41.84 on Friday. The business has a 50-day moving average of $42.81 and a 200-day moving average of $42.13. Ovintiv has a 1 year low of $36.90 and a 1 year high of $55.95. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 5.55 and a beta of 2.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Institutional Trading of Ovintiv

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Ovintiv by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 29,463,495 shares of the company’s stock worth $1,193,272,000 after buying an additional 451,947 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Ovintiv by 17.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock worth $314,623,000 after acquiring an additional 1,207,610 shares during the last quarter. Pacer Advisors Inc. lifted its position in Ovintiv by 11,282.4% in the 3rd quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after acquiring an additional 6,486,159 shares in the last quarter. Smead Capital Management Inc. lifted its position in Ovintiv by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after acquiring an additional 212,535 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Ovintiv by 14.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,562,238 shares of the company’s stock worth $225,265,000 after purchasing an additional 683,700 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

About Ovintiv

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.