NYSE:OVV

Ovintiv (OVV) Stock Forecast, Price & News

$45.20

+0.01 (+0.02%)

(As of 09/22/2023 ET)

Compare

Today's Range: $45.07
▼
$46.18
50-Day Range: $39.32
▼
$48.98
52-Week Range: $32.07
▼
$59.10

Volume: 4.29 million shs
Average Volume: 3.46 million shs
Market Capitalization: $12.38 billion

P/E Ratio: 3.41
Dividend Yield: 2.65%
Price Target: $56.89

Ovintiv MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.50 Rating Score
Upside/Downside: 25.9% Upside
$56.89 Price Target
Short Interest: Healthy
5.95% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: -8.77
Upright™ Environmental Score
News Sentiment: 1.14
Based on 10 Articles This Week
Insider Trading: Selling Shares
$58,429 Sold Last Quarter
Proj. Earnings Growth: 29.58%
From $6.12 to $7.93 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.45 out of 5 stars

Oils/Energy Sector

3rd out of 233 stocks

Crude Petroleum & Natural Gas Industry

3rd out of 77 stocks

4.3

Analyst's Opinion

Consensus Rating
Ovintiv has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 8 buy ratings, 8 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $56.89, Ovintiv has a forecasted upside of 25.9% from its current price of $45.20.
Amount of Analyst Coverage
Ovintiv has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

4.0

Short Interest

Percentage of Shares Shorted
5.95% of the float of Ovintiv has been sold short.
Short Interest Ratio / Days to Cover
Ovintiv has a short interest ratio ("days to cover") of 3.3, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Ovintiv has recently decreased by 8.57%, indicating that investor sentiment is improving significantly.

2.5

Dividend Strength

Dividend Yield
Ovintiv pays a meaningful dividend of 2.66%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Ovintiv has only been increasing its dividend for 3 years.
Dividend Coverage
The dividend payout ratio of Ovintiv is 9.06%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Ovintiv will have a dividend payout ratio of 15.13% next year. This indicates that Ovintiv will be able to sustain or increase its dividend.

0.0

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Ovintiv has received a -132.74% net impact score from Upright. The largest negative impact of Ovintiv in category "GHG emissions" seems to be driven mostly by its "Conventional crude oil", "Oil drilling services", and "Natural gas drilling services" products. See details.
Environmental Sustainability
The Environmental Impact score for Ovintiv is -8.77.

4.0

News and Social Media Coverage

News Sentiment
Ovintiv has a news sentiment score of 1.14. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.66 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 10 news articles for Ovintiv this week, compared to 4 articles on an average week.
Search Interest
21 people have searched for OVV on MarketBeat in the last 30 days. This is an increase of 133% compared to the previous 30 days.
MarketBeat Follows
9 people have added Ovintiv to their MarketBeat watchlist in the last 30 days. This is an increase of 13% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Ovintiv insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $58,429.00 in company stock.
Percentage Held by Insiders
Only 1.70% of the stock of Ovintiv is held by insiders.
Percentage Held by Institutions
98.30% of the stock of Ovintiv is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

4.4

Earnings and Valuation

Earnings Growth
Earnings for Ovintiv are expected to grow by 29.58% in the coming year, from $6.12 to $7.93 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Ovintiv is 3.41, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 116.68.
Price to Earnings Ratio vs. Sector
The P/E ratio of Ovintiv is 3.41, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 12.49.
Price to Earnings Growth Ratio
Ovintiv has a PEG Ratio of 0.57. PEG Ratios below 1 indicate that a company could be undervalued.
Price to Book Value per Share Ratio
Ovintiv has a P/B Ratio of 1.44. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Ovintiv (NYSE:OVV) Stock

Ovintiv Inc., together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta. Its other upstream assets comprise Bakken in northwest North Dakota, and Uinta in central Utah; and Horn River in northeast British Columbia, and Wheatland in southern Alberta. The company was formerly known as Encana Corporation and changed its name to Ovintiv Inc. in January 2020. Ovintiv Inc. was incorporated in 2020 and is based in Denver, Colorado.

OVV Price History

30 days | 90 days | 365 days | Advanced Chart

OVV Stock News Headlines

September 19, 2023 | americanbankingnews.com

Ovintiv (NYSE:OVV) Given New $67.00 Price Target at Mizuho

September 18, 2023 | americanbankingnews.com

Q3 2023 EPS Estimates for Ovintiv Inc. (NYSE:OVV) Boosted by Zacks Research

September 23, 2023 | The Oxford Club (Ad)

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September 16, 2023 | americanbankingnews.com

Ovintiv Inc. (NYSE:OVV) Given Average Rating of "Moderate Buy" by Brokerages

September 14, 2023 | finance.yahoo.com

Ovintiv Inc (OVV): A Comprehensive Look at Its Dividend Performance and Sustainability

September 11, 2023 | finance.yahoo.com

Ovintiv Announces Secondary Offering of Common Stock by a Selling Stockholder

September 1, 2023 | markets.businessinsider.com

Ovintiv (OVV) Gets a Hold from Wells Fargo

August 29, 2023 | finance.yahoo.com

Is Ovintiv Inc.'s (TSE:OVV) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?

September 23, 2023 | The Oxford Club (Ad)

2,164% from AI stock in a... month?

August 19, 2023 | nasdaq.com

Morgan Stanley Maintains Ovintiv (OVV) Equal-Weight Recommendation

August 10, 2023 | benzinga.com

Ovintiv Insider Trades Send a Signal

August 3, 2023 | finance.yahoo.com

Ovintiv (OVV) Surpasses Q2 Earnings and Revenue Estimates

August 1, 2023 | theglobeandmail.com

Closing Bell: Ovintiv Inc up on Monday (OVV)

July 31, 2023 | finance.yahoo.com

Ovintiv Integrates $4.2B Midland Basin Acquisition in Q2

July 31, 2023 | msn.com

RBC Capital Maintains Ovintiv (OVV) Sector Perform Recommendation

July 29, 2023 | seekingalpha.com

Ovintiv, Inc. (OVV) Q2 2023 Earnings Call Transcript

July 29, 2023 | theglobeandmail.com

Closing Bell: Ovintiv Inc up on Friday (OVV)

July 28, 2023 | seekingalpha.com

Ovintiv Inc. 2023 Q2 - Results - Earnings Call Presentation

July 28, 2023 | markets.businessinsider.com

Ovintiv (OVV) Receives a Buy from Siebert Williams Shank & Co

July 26, 2023 | benzinga.com

Earnings Preview For Ovintiv

July 24, 2023 | seekingalpha.com

Ovintiv Maintains Enhanced Prospects With Strong Assets And Core Midland Acquisition

July 15, 2023 | markets.businessinsider.com

Analysts Have Conflicting Sentiments on These NA Companies: Ovintiv (OVV) and Conocophillips (COP)

July 14, 2023 | finance.yahoo.com

Ovintiv Inc. (TSE:OVV) institutional owners may be pleased with recent gains after 0.3% loss over the past year

July 14, 2023 | msn.com

UBS Maintains Ovintiv (OVV) Buy Recommendation

July 13, 2023 | msn.com

Goldman Sachs Reiterates Ovintiv (OVV) Neutral Recommendation

July 11, 2023 | msn.com

Citigroup Reiterates Ovintiv (OVV) Neutral Recommendation

July 11, 2023 | benzinga.com

Citigroup Reiterates Neutral on Ovintiv, Maintains $40 Price Target

See More Headlines

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OVV Company Calendar

Ex-Dividend for 6/30 Dividend: 6/14/2023
Dividend Payable: 6/30/2023
Last Earnings: 7/27/2023
Ex-Dividend for 9/29 Dividend: 9/14/2023
Today: 9/23/2023
Dividend Payable: 9/29/2023
Next Earnings (Estimated): 11/14/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Crude petroleum & natural gas
Sub-Industry: N/A
Sector: Oils/Energy
Current Symbol: NYSE:OVV
CUSIP: N/A
CIK: 1792580
Web: www.ovintiv.com
Phone: 303-623-2300
Fax: 303-623-2400
Employees: 1,744
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $56.89
High Stock Price Forecast: $79.00
Low Stock Price Forecast: $39.00
Forecasted Upside/Downside: +25.9%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.50
Research Coverage: 16 Analysts

Profitability

EPS (Most Recent Fiscal Year): $13.24
Trailing P/E Ratio: 3.41
Forward P/E Ratio: 7.39
P/E Growth: 0.57
Net Income: $3.64 billion
Net Margins: 28.27%
Pretax Margin: 29.03%
Return on Equity: 16.27%
Return on Assets: 7.98%

Debt

Debt-to-Equity Ratio: 0.59
Current Ratio: 0.45
Quick Ratio: 0.45

Sales & Book Value

Annual Sales: $12.46 billion
Price / Sales: 0.99
Cash Flow: $11.74 per share
Price / Cash Flow: 3.85
Book Value: $31.29 per share
Price / Book: 1.44

Miscellaneous

Outstanding Shares: 273,860,000
Free Float: 269,204,000
Market Cap: $12.38 billion
Optionable: Optionable
Beta: 2.81

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Key Executives

Mr. Brendan Michael McCracken (Age 47)
Pres, CEO & Director
Comp: $2.92M

Mr. Corey Douglas Code (Age 49)
Exec. VP & CFO
Comp: $1.14M

Mr. Gregory Dean Givens (Age 50)
Exec. VP & COO
Comp: $1.39M

Ms. Renee E. Zemljak (Age 58)
Exec. VP of Midstream, Marketing & Fundamentals
Comp: $1.05M

Ms. Rachel Maureen Moore CHRP (Age 51)
Exec. VP of Corp. Services
Comp: $809.56k

Mr. Stephen Carter Campbell (Age 54)
Sr. VP of Investor Relations

Ms. Meghan Nicole Eilers (Age 41)
Exec. VP, Gen. Counsel & Corp. Sec.

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

OVV Stock - Frequently Asked Questions

Should I buy or sell Ovintiv stock right now?: 16 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Ovintiv in the last year. There are currently 8 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" OVV shares.
View OVV analyst ratings or view top-rated stocks.
What is Ovintiv's stock price forecast for 2023?: 16 Wall Street analysts have issued 12 month target prices for Ovintiv's shares. Their OVV share price forecasts range from $39.00 to $79.00. On average, they predict the company's share price to reach $56.89 in the next year. This suggests a possible upside of 25.9% from the stock's current price.
View analysts price targets for OVV or view top-rated stocks among Wall Street analysts.
How have OVV shares performed in 2023?: Ovintiv's stock was trading at $50.71 on January 1st, 2023. Since then, OVV shares have decreased by 10.9% and is now trading at $45.20.
View the best growth stocks for 2023 here.
When is Ovintiv's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 14th 2023.
View our OVV earnings forecast.
How were Ovintiv's earnings last quarter?: Ovintiv Inc. (NYSE:OVV) posted its earnings results on Thursday, July, 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.02. The company earned $2.52 billion during the quarter, compared to analysts' expectations of $2.11 billion. Ovintiv had a trailing twelve-month return on equity of 16.27% and a net margin of 28.27%.
How often does Ovintiv pay dividends? What is the dividend yield for Ovintiv?: Ovintiv declared a quarterly dividend on Thursday, July 27th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.30 per share on Friday, September 29th. This represents a $1.20 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, September 14th.
Read our dividend analysis for OVV.
What ETFs hold Ovintiv's stock?: ETFs with the largest weight of Ovintiv (NYSE:OVV) stock in their portfolio include Invesco Energy Exploration & Production ETF (PXE), First Trust Energy AlphaDEX Fund (FXN), Proshares Equities For Rising Rates ETF (EQRR), First Trust Natural Gas ETF (FCG), SPDR S&P Oil & Gas Exploration & Production ETF (XOP), AXS Astoria Inflation Sensitive ETF (PPI), First Trust Bloomberg Inflation Sensitive Equity ETF (FTIF) and Euclidean Fundamental Value ETF (ECML).
Is Ovintiv a good dividend stock?: Ovintiv (NYSE:OVV) pays an annual dividend of $1.20 per share and currently has a dividend yield of 2.66%. The company has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 9.06%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, OVV will have a dividend payout ratio of 15.13% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for OVV.

What other stocks do shareholders of Ovintiv own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Ovintiv investors own include Johnson & Johnson (JNJ), Exxon Mobil (XOM), American Airlines Group (AAL), General Electric (GE), Pfizer (PFE), AT&T (T), Alibaba Group (BABA), Delta Air Lines (DAL), Walt Disney (DIS) and
What is Ovintiv's stock symbol?: Ovintiv trades on the New York Stock Exchange (NYSE) under the ticker symbol "OVV."
Who are Ovintiv's major shareholders?: Ovintiv's stock is owned by many different institutional and retail investors. Top institutional investors include BlackRock Inc. (9.77%), EnCap Energy Capital Fund XI L.P. (5.37%), EnCap Energy Capital Fund X L.P. (3.65%), State Street Corp (3.56%), EnCap Energy Capital Fund IX L.P. (2.58%) and Hotchkis & Wiley Capital Management LLC (2.25%). Insiders that own company stock include Douglas James Suttles, Howard John Mayson, Joanne Linette Alexander, Katherine Lucas Minyard, Rachel Maureen Moore, Renee Ellen Zemljak, Steven W Nance and Thomas G Ricks.
View institutional ownership trends.
How do I buy shares of Ovintiv?: Shares of OVV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Ovintiv's stock price today?: One share of OVV stock can currently be purchased for approximately $45.20.
How much money does Ovintiv make?: Ovintiv (NYSE:OVV) has a market capitalization of $12.38 billion and generates $12.46 billion in revenue each year. The company earns $3.64 billion in net income (profit) each year or $13.24 on an earnings per share basis.
How many employees does Ovintiv have?: The company employs 1,744 workers across the globe.
How can I contact Ovintiv?: Ovintiv's mailing address is 370 - 17TH STREET SUITE 1700, DENVER CO, 80202. The official website for the company is www.ovintiv.com. The company can be reached via phone at 303-623-2300, via email at investor.relations@ovintiv.com, or via fax at 303-623-2400.

This page (NYSE:OVV) was last updated on 9/23/2023 by MarketBeat.com Staff

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