Ovintiv (NYSE:OVV) Price Target Raised to $60.00 at Truist Financial

Ovintiv (NYSE:OVV) had its price objective boosted by Truist Financial from $59.00 to $60.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 32.57% from the stock’s current price.

A number of other analysts have also issued reports on OVV. Mizuho reduced their price target on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company dropped their price target on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Citigroup dropped their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Barclays lifted their price target 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, Scotiabank raised their price objective on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ovintiv presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.81.

Ovintiv Stock Up 3.8 %

Shares of NYSE OVV traded up $1.65 during mid-day trading on Monday, reaching $45.26. The company had a trading volume of 357,088 shares, compared to its average volume of 2,016,406. The stock has a fifty day moving average of $42.03 and a two-hundred day moving average of $42.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 6.00 and a beta of 2.63. Ovintiv has a 12-month low of $36.90 and a 12-month high of $55.95.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in shares of 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 purchasing an additional 636 shares in the last quarter. UMB Bank n.a. boosted 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 stake in Ovintiv in the third quarter valued at about $65,000. Covestor Ltd boosted its stake in Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after buying an additional 560 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in Ovintiv in the third quarter valued at about $122,000. Institutional investors 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.