Shares of Ovintiv Inc. (NYSE:OVV - Get Free Report) have received an average rating of "Buy" from the seventeen research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $53.94.
Several equities analysts have recently issued reports on OVV shares. The Goldman Sachs Group upgraded Ovintiv from a "neutral" rating to a "buy" rating and lifted their price target for the company from $47.00 to $51.00 in a research report on Tuesday, July 1st. Morgan Stanley reiterated an "overweight" rating and set a $50.00 price target on shares of Ovintiv in a research report on Tuesday, April 15th. Mizuho lowered their price target on Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company lowered their price target on Ovintiv from $46.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Monday, June 16th. Finally, TD Cowen raised Ovintiv to a "strong-buy" rating in a research note on Monday, July 7th.
Read Our Latest Research Report on OVV
Ovintiv Stock Performance
OVV traded up $1.41 during trading hours on Tuesday, hitting $41.40. The company's stock had a trading volume of 5,744,041 shares, compared to its average volume of 3,012,459. Ovintiv has a fifty-two week low of $29.80 and a fifty-two week high of $48.35. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $10.76 billion, a PE ratio of 18.32, a PEG ratio of 2.23 and a beta of 1.08. The company has a 50-day simple moving average of $39.05 and a 200 day simple moving average of $39.62.
Ovintiv (NYSE:OVV - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.92 billion. As a group, sell-side analysts expect that Ovintiv will post 5.59 EPS for the current year.
Ovintiv Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $0.30 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.90%. Ovintiv's dividend payout ratio (DPR) is presently 53.10%.
Institutional Trading of Ovintiv
Hedge funds and other institutional investors have recently modified their holdings of the business. Westpac Banking Corp boosted its position in Ovintiv by 64.8% during the fourth quarter. Westpac Banking Corp now owns 31,369 shares of the company's stock valued at $1,270,000 after purchasing an additional 12,340 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Ovintiv during the fourth quarter valued at $25,272,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Ovintiv by 19.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,820 shares of the company's stock valued at $8,768,000 after purchasing an additional 34,207 shares during the last quarter. Franklin Resources Inc. boosted its position in Ovintiv by 62.3% during the fourth quarter. Franklin Resources Inc. now owns 439,769 shares of the company's stock valued at $17,811,000 after purchasing an additional 168,801 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Ovintiv by 11.5% during the fourth quarter. Federated Hermes Inc. now owns 164,796 shares of the company's stock valued at $6,674,000 after purchasing an additional 16,945 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.
Ovintiv Company Profile
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Get Free ReportOvintiv 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.
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