Ovintiv Inc. (NYSE:OVV) Given Average Recommendation of "Moderate Buy" by Analysts

Ovintiv Inc. (NYSE:OVV - Get Free Report) has been assigned an average rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $56.71.

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised their price target on shares of Ovintiv from $59.00 to $69.00 and gave the company a "buy" rating in a report on Friday, April 12th. Royal Bank of Canada raised their price target on shares of Ovintiv from $48.00 to $49.00 and gave the company a "sector perform" rating in a report on Thursday, February 29th. Morgan Stanley raised their price target on shares of Ovintiv from $49.00 to $53.00 and gave the company an "equal weight" rating in a report on Monday, April 15th. Mizuho reissued a "buy" rating and issued a $58.00 price objective on shares of Ovintiv in a report on Thursday, April 4th. Finally, Scotiabank dropped their price objective on shares of Ovintiv from $53.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, January 16th.

Insiders Place Their Bets

In other Ovintiv news, EVP Renee Ellen Zemljak sold 76,264 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the sale, the executive vice president now owns 23,672 shares in the company, valued at approximately $1,206,325.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $50.65, for a total transaction of $471,045.00. Following the sale, the executive vice president now owns 52,557 shares in the company, valued at $2,662,012.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Renee Ellen Zemljak sold 76,264 shares of Ovintiv stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the sale, the executive vice president now owns 23,672 shares in the company, valued at approximately $1,206,325.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,564 shares of company stock worth $4,660,818. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Ovintiv

Several institutional investors and hedge funds have recently modified their holdings of OVV. Quent Capital LLC raised its position in shares of Ovintiv by 151.3% during the fourth quarter. Quent Capital LLC now owns 583 shares of the company's stock valued at $26,000 after buying an additional 351 shares during the last quarter. American National Bank bought a new stake in Ovintiv in the first quarter worth $27,000. Loomis Sayles & Co. L P increased its position in Ovintiv by 107.6% in the third quarter. Loomis Sayles & Co. L P now owns 658 shares of the company's stock worth $31,000 after purchasing an additional 341 shares during the last quarter. Avalon Trust Co bought a new stake in Ovintiv in the fourth quarter worth $34,000. Finally, Pacifica Partners Inc. bought a new stake in Ovintiv in the fourth quarter worth $37,000. Institutional investors own 83.81% of the company's stock.

Ovintiv Stock Up 0.2 %

NYSE:OVV traded up $0.12 on Friday, reaching $53.26. 1,139,322 shares of the stock traded hands, compared to its average volume of 2,470,301. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of 6.75 and a beta of 2.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53. Ovintiv has a 12 month low of $32.07 and a 12 month high of $55.95. The company's fifty day simple moving average is $50.99 and its 200 day simple moving average is $46.63.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.41. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. Equities analysts predict that Ovintiv will post 6.13 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Thursday, March 14th. Ovintiv's payout ratio is 15.21%.

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.