Ovintiv (NYSE:OVV) Given a $10.00 Price Target by Raymond James Analysts

Raymond James set a $10.00 target price on Ovintiv (NYSE:OVV) in a report published on Thursday, BayStreet.CA reports. The firm currently has a market perform rating on the stock.

OVV has been the subject of several other reports. SunTrust Banks raised their target price on Ovintiv from $7.00 to $12.00 and gave the company a hold rating in a research note on Friday, June 19th. MKM Partners lowered their target price on Ovintiv from $13.00 to $12.00 and set a buy rating for the company in a research note on Thursday, May 21st. Eight Capital downgraded Ovintiv from a neutral rating to a sell rating in a research note on Tuesday, April 28th. BMO Capital Markets upgraded Ovintiv from a market perform rating to an outperform rating and raised their target price for the company from $6.50 to $13.00 in a research note on Monday, June 29th. Finally, UBS Group increased their price target on shares of Ovintiv from $10.00 to $17.00 and gave the stock a buy rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $12.89.

NYSE OVV traded down $0.17 during trading hours on Thursday, hitting $9.69. The company had a trading volume of 3,922,598 shares, compared to its average volume of 4,502,349. The business’s 50 day moving average is $9.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $2.52 billion, a P/E ratio of -0.66 and a beta of 4.00. Ovintiv has a fifty-two week low of $2.10 and a fifty-two week high of $28.75.

Ovintiv (NYSE:OVV) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.02). The business had revenue of $726.00 million for the quarter, compared to analyst estimates of $1.28 billion. Ovintiv had a negative net margin of 56.12% and a positive return on equity of 3.21%. As a group, equities analysts predict that Ovintiv will post -0.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.094 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.38 dividend on an annualized basis and a yield of 3.88%. Ovintiv’s dividend payout ratio is currently 11.55%.

A number of hedge funds and other institutional investors have recently modified their holdings of OVV. AXA bought a new position in Ovintiv in the first quarter worth about $28,000. Guggenheim Capital LLC purchased a new position in Ovintiv during the first quarter valued at $31,000. Modus Advisors LLC purchased a new position in Ovintiv during the first quarter valued at $33,000. Cumberland Partners Ltd purchased a new position in Ovintiv during the first quarter valued at $34,000. Finally, Eaton Vance Management purchased a new position in Ovintiv during the first quarter valued at $34,000. 55.72% of the stock is currently owned by hedge funds and other institutional investors.

About Ovintiv

There is no company description available for Ovintiv Inc

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Analyst Recommendations for Ovintiv (NYSE:OVV)

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