Ovintiv (NYSE:OVV) Price Target Lowered to $75.00 at UBS Group

Key Points

• UBS lowered its price target on Ovintiv to $75 (from $76) but kept a "buy" rating, implying roughly a 34.3% upside from the prior close.
• The analyst consensus is a Moderate Buy (1 Strong Buy, 14 Buy, 6 Hold) with a consensus price target of $60.26, while multiple firms (Barclays, RBC, Scotiabank) have recently raised targets and Morgan Stanley initiated coverage at $68.
• Ovintiv beat Q earnings expectations with $1.39 EPS (vs. $0.98 est.), and the stock trades around $55.85 with a $15.82B market cap and a 52‑week range of $30.77–$62.60.

Ovintiv (NYSE:OVV - Get Free Report) had its price target lowered by equities research analysts at UBS Group from $76.00 to $75.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target would indicate a potential upside of 34.30% from the company's previous close.

Several other research firms also recently weighed in on OVV. Zacks Research upgraded Ovintiv from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 3rd. Barclays lifted their target price on Ovintiv from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Monday, March 16th. Royal Bank Of Canada lifted their target price on Ovintiv from $55.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday. Morgan Stanley assumed coverage on Ovintiv in a research report on Friday, March 27th. They issued an "equal weight" rating and a $68.00 price objective on the stock. Finally, Scotiabank boosted their price objective on Ovintiv from $58.00 to $65.00 and gave the company a "sector outperform" rating in a research report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.26.

Ovintiv Stock Performance

NYSE OVV traded down $0.93 on Thursday, hitting $55.85. 3,096,474 shares of the company traded hands, compared to its average volume of 4,990,842. The company has a market capitalization of $15.82 billion, a price-to-earnings ratio of 11.56, a P/E/G ratio of 2.12 and a beta of 0.59. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The business's 50 day moving average price is $52.47 and its 200-day moving average price is $43.87. Ovintiv has a 52-week low of $30.77 and a 52-week high of $62.60.

Ovintiv (NYSE:OVV - Get Free Report) last released its earnings results on Monday, February 23rd. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.41. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.89 billion. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.During the same period in the previous year, the business earned ($0.23) earnings per share. Equities analysts expect that Ovintiv will post 5.59 earnings per share for the current year.

Insider Transactions at Ovintiv

In related news, EVP Meghan Nicole Eilers sold 11,582 shares of the business's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $54.78, for a total value of $634,461.96. Following the sale, the executive vice president directly owned 54,092 shares in the company, valued at approximately $2,963,159.76. The trade was a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Howard John Mayson sold 5,000 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.39, for a total value of $261,950.00. Following the completion of the sale, the director owned 45,780 shares in the company, valued at $2,398,414.20. This represents a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ovintiv

A number of hedge funds have recently made changes to their positions in OVV. Integrated Wealth Concepts LLC lifted its position in shares of Ovintiv by 70.9% in the first quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company's stock worth $391,000 after buying an additional 3,788 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Ovintiv during the first quarter worth approximately $202,000. Focus Partners Wealth increased its stake in Ovintiv by 49.3% during the first quarter. Focus Partners Wealth now owns 19,282 shares of the company's stock worth $825,000 after acquiring an additional 6,364 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Ovintiv by 47.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,830 shares of the company's stock worth $78,000 after acquiring an additional 589 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Ovintiv during the second quarter worth approximately $563,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Company Profile

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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