Barclays Lowers Ovintiv (NYSE:OVV) Price Target to $56.00

Ovintiv (NYSE:OVVGet Rating) had its price target lowered by equities researchers at Barclays from $60.00 to $56.00 in a note issued to investors on Monday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 11.53% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Morgan Stanley lowered their price target on Ovintiv from $61.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, December 14th. The Goldman Sachs Group lifted their price target on Ovintiv from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 19th. Jefferies Financial Group began coverage on Ovintiv in a report on Wednesday, October 19th. They issued a “buy” rating and a $75.00 price objective for the company. National Bankshares decreased their price objective on Ovintiv from $77.00 to $74.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Finally, Royal Bank of Canada boosted their price objective on Ovintiv from $57.00 to $58.00 and gave the company a “sector perform” rating in a report on Thursday, November 10th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.32.

Ovintiv Stock Down 2.2 %

Shares of OVV stock opened at $50.21 on Monday. Ovintiv has a 1-year low of $35.92 and a 1-year high of $63.30. The stock’s fifty day moving average price is $51.15 and its 200 day moving average price is $50.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.51.

Ovintiv (NYSE:OVVGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.54). Ovintiv had a return on equity of 53.16% and a net margin of 29.27%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $2.52 billion. Sell-side analysts anticipate that Ovintiv will post 8.27 EPS for the current fiscal year.

Insider Transactions at Ovintiv

In other news, Director Howard John Mayson sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $56.21, for a total transaction of $146,146.00. Following the completion of the transaction, the director now directly owns 24,403 shares of the company’s stock, valued at approximately $1,371,692.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Ovintiv news, EVP Renee Ellen Zemljak sold 610 shares of Ovintiv stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $55.12, for a total value of $33,623.20. Following the completion of the sale, the executive vice president now directly owns 71,814 shares of the company’s stock, valued at approximately $3,958,387.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard John Mayson sold 2,600 shares of Ovintiv stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $56.21, for a total transaction of $146,146.00. Following the completion of the sale, the director now directly owns 24,403 shares of the company’s stock, valued at $1,371,692.63. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Institutional Trading of Ovintiv

Institutional investors have recently made changes to their positions in the stock. Bay Harbor Wealth Management LLC purchased a new stake in shares of Ovintiv during the 2nd quarter valued at $29,000. Ronald Blue Trust Inc. purchased a new stake in shares of Ovintiv during the 2nd quarter valued at $31,000. Rosenberg Matthew Hamilton grew its stake in shares of Ovintiv by 26.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 950 shares of the company’s stock valued at $44,000 after buying an additional 200 shares during the period. Quent Capital LLC purchased a new stake in shares of Ovintiv during the 3rd quarter valued at $58,000. Finally, CWM LLC grew its stake in shares of Ovintiv by 20.1% during the 2nd quarter. CWM LLC now owns 1,460 shares of the company’s stock valued at $65,000 after buying an additional 244 shares during the period. 76.76% of the stock is owned by hedge funds and other institutional investors.

Ovintiv Company Profile

(Get Rating)

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

Featured Articles

The Fly logo

Analyst Recommendations for Ovintiv (NYSE:OVV)

Receive News & Ratings for Ovintiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovintiv and related companies with MarketBeat.com's FREE daily email newsletter.