Ovintiv Inc. (NYSE:OVV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Ovintiv Inc. (NYSE:OVV) have earned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $56.47.

Several research firms have recently weighed in on OVV. Citigroup lowered their target price on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Mizuho decreased their target price on Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Truist Financial lifted their price target on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays raised their price objective on shares of Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company reduced their target price on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. True Wealth Design LLC raised its stake in Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after buying an additional 636 shares during the period. Innealta Capital LLC acquired a new stake in shares of Ovintiv during the second quarter worth about $39,000. UMB Bank n.a. lifted its stake in Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after buying an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Ovintiv in the third quarter valued at approximately $65,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Ovintiv during the second quarter worth $69,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

Ovintiv Price Performance

Ovintiv stock opened at $40.50 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The business has a 50 day simple moving average of $42.32 and a 200 day simple moving average of $43.63. Ovintiv has a one year low of $36.90 and a one year high of $55.95. The company has a market capitalization of $10.54 billion, a PE ratio of 5.37 and a beta of 2.63.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.96%. Ovintiv’s dividend payout ratio (DPR) is presently 15.92%.

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.