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Ovintiv's (OVV) Hold (C-) Rating Reiterated at Weiss Ratings

Ovintiv logo with Energy background

Key Points

  • Weiss Ratings has reiterated a "hold (C-)" rating for Ovintiv (OVV), amidst varying evaluations from other analysts.
  • Ovintiv's latest earnings report showed a miss in EPS and revenue, with $1.02 EPS against a consensus estimate of $1.04 and revenue of $1.79 billion versus $1.92 billion expected.
  • The stock has a consensus rating of "Moderate Buy" with an average target price of $52.00, while showing significant interest from institutional investors, owning 83.81% of the stock.
  • Five stocks we like better than Ovintiv.

Ovintiv (NYSE:OVV - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also commented on OVV. Mizuho reduced their price target on shares of Ovintiv from $58.00 to $50.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Morgan Stanley set a $48.00 target price on Ovintiv and gave the company an "equal weight" rating in a research report on Monday, August 18th. Citigroup set a $54.00 target price on Ovintiv and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Barclays lowered their target price on Ovintiv from $57.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, UBS Group lifted their target price on Ovintiv from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.00.

Read Our Latest Analysis on OVV

Ovintiv Trading Up 1.0%

Shares of NYSE:OVV opened at $40.46 on Wednesday. The company has a market cap of $10.40 billion, a P/E ratio of 17.92, a PEG ratio of 5.15 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. Ovintiv has a 1 year low of $29.80 and a 1 year high of $47.18. The stock's fifty day moving average price is $40.82 and its 200-day moving average price is $38.94.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.02). The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.92 billion. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. Sell-side analysts expect that Ovintiv will post 5.59 earnings per share for the current year.

Hedge Funds Weigh In On Ovintiv

Several hedge funds have recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of Ovintiv by 16.9% in the 1st quarter. UMB Bank n.a. now owns 2,890 shares of the company's stock valued at $124,000 after buying an additional 417 shares during the period. Park Avenue Securities LLC grew its stake in shares of Ovintiv by 51.5% during the 1st quarter. Park Avenue Securities LLC now owns 10,373 shares of the company's stock worth $444,000 after purchasing an additional 3,528 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Ovintiv by 1,012.3% during the 1st quarter. Farther Finance Advisors LLC now owns 4,149 shares of the company's stock valued at $182,000 after purchasing an additional 3,776 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Ovintiv by 72.1% during the first quarter. GAMMA Investing LLC now owns 5,551 shares of the company's stock worth $238,000 after buying an additional 2,326 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Ovintiv by 5,604.0% during the first quarter. SG Americas Securities LLC now owns 173,058 shares of the company's stock valued at $7,407,000 after buying an additional 170,024 shares during the period. 83.81% of the stock is owned by institutional investors and hedge funds.

About Ovintiv

(Get Free Report)

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.

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Analyst Recommendations for Ovintiv (NYSE:OVV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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