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

Key Points

• Analysts consensus: Ovintiv has a consensus recommendation of "Moderate Buy" from 21 analysts (15 buys, 6 holds) and an average 1‑year price target of $60.42, with several firms recently raising targets (Bank of America to $68, Citigroup to $62).
• Quarterly results: Ovintiv beat EPS expectations with $1.39 vs. $0.98 consensus while reporting $1.89 billion in revenue in line with estimates; sell‑side analysts project ~6.52 EPS for the current fiscal year.
• Dividends and insider activity: The company pays a quarterly dividend of $0.30 ($1.20 annualized, ~2.2% yield, 24.8% payout ratio), and recent insider sales (EVP sold 11,582 shares; a director sold 5,000) leave insiders owning 0.85% while institutions hold about 83.8% of the stock.

Ovintiv Inc. (NYSE:OVV - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-one analysts that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $60.4211.

Several brokerages have issued reports on OVV. Stephens upgraded Ovintiv to a "hold" rating in a research note on Tuesday, February 3rd. Bank of America upped their price objective on Ovintiv from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. Weiss Ratings upgraded Ovintiv from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 2nd. Citigroup restated a "neutral" rating and set a $62.00 price objective (up from $52.00) on shares of Ovintiv in a research note on Monday, March 30th. Finally, National Bank Financial upped their price objective on Ovintiv from $56.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, February 25th.

Ovintiv Trading Up 1.5%

NYSE:OVV opened at $55.73 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. Ovintiv has a one year low of $32.91 and a one year high of $62.60. The business's 50-day simple moving average is $54.44 and its 200 day simple moving average is $44.84. The stock has a market cap of $15.79 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.79 and a beta of 0.59.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.41. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts predict that Ovintiv will post 6.52 earnings per share for the current fiscal year.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, March 13th. This represents a $1.20 annualized dividend and a yield of 2.2%. Ovintiv's dividend payout ratio is presently 24.79%.

Insider Activity at Ovintiv

In other Ovintiv news, EVP Meghan Nicole Eilers sold 11,582 shares of the company's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $54.78, for a total transaction of $634,461.96. Following the sale, the executive vice president owned 54,092 shares in the company, valued at $2,963,159.76. This represents a 17.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Howard John Mayson sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total value of $261,950.00. Following the transaction, the director directly owned 45,780 shares of the company's stock, valued at $2,398,414.20. This trade represents a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.85% of the company's stock.

Hedge Funds Weigh In On Ovintiv

Several institutional investors have recently made changes to their positions in OVV. Integrated Wealth Concepts LLC grew its holdings in shares of Ovintiv by 70.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company's stock valued at $391,000 after purchasing an additional 3,788 shares during the last quarter. Great Lakes Advisors LLC bought a new position in shares of Ovintiv during the first quarter valued at approximately $202,000. Focus Partners Wealth grew its holdings in shares of Ovintiv by 49.3% during the first quarter. Focus Partners Wealth now owns 19,282 shares of the company's stock valued at $825,000 after purchasing an additional 6,364 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Ovintiv by 47.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company's stock valued at $78,000 after purchasing an additional 589 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Ovintiv by 103.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,298 shares of the company's stock valued at $126,000 after purchasing an additional 1,675 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

About Ovintiv

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv's upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company's core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.

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