Ovintiv Inc. (NYSE:OVV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Ovintiv Inc. (NYSE:OVV) have received a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $57.00.

A number of equities research analysts recently commented on the stock. Mizuho dropped their price objective on shares of Ovintiv from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Evercore ISI lowered their price target on shares of Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Morgan Stanley lowered their price target on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Wolfe Research started coverage on shares of Ovintiv in a research note on Thursday, July 18th. They issued an “outperform” rating and a $65.00 price target on the stock. Finally, Citigroup lowered their price target on shares of Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 7th.

Ovintiv Trading Up 0.6 %

OVV opened at $42.22 on Thursday. The firm’s fifty day moving average is $40.53 and its two-hundred day moving average is $44.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $10.99 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 7.60 and a beta of 2.62. Ovintiv has a twelve month low of $36.90 and a twelve month high of $55.95.

Ovintiv Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Institutional Trading of Ovintiv

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its position in Ovintiv by 17.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 25,770 shares of the company’s stock worth $1,337,000 after buying an additional 3,911 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Ovintiv in the first quarter worth $214,000. Headlands Technologies LLC bought a new stake in shares of Ovintiv during the first quarter worth $129,000. QRG Capital Management Inc. lifted its position in shares of Ovintiv by 18.6% during the first quarter. QRG Capital Management Inc. now owns 29,598 shares of the company’s stock worth $1,536,000 after purchasing an additional 4,649 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Ovintiv by 11.0% during the first quarter. Russell Investments Group Ltd. now owns 286,613 shares of the company’s stock worth $14,875,000 after purchasing an additional 28,369 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

About Ovintiv

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.