Barclays Issues Positive Forecast for Ovintiv (NYSE:OVV) Stock Price

Ovintiv (NYSE:OVV) had its price target boosted by Barclays from $53.00 to $57.00 in a research report released on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on OVV. Wolfe Research assumed coverage on Ovintiv in a research report on Thursday, July 18th. They set an “outperform” rating and a $65.00 price objective for the company. Wells Fargo & Company reduced their target price on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Evercore ISI decreased their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Royal Bank of Canada reduced their price objective on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.71.

Ovintiv Stock Up 2.7 %

NYSE OVV opened at $44.97 on Friday. The company has a market capitalization of $11.71 billion, a P/E ratio of 5.96, a PEG ratio of 7.97 and a beta of 2.62. Ovintiv has a 12 month low of $36.90 and a 12 month high of $55.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The company’s 50 day simple moving average is $40.80 and its 200 day simple moving average is $44.36.

Ovintiv Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.67%. Ovintiv’s payout ratio is 15.92%.

Institutional Investors Weigh In On Ovintiv

Several large investors have recently made changes to their positions in OVV. True Wealth Design LLC boosted its holdings in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Ovintiv during the 2nd quarter worth about $39,000. UMB Bank n.a. boosted its stake in shares of Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after acquiring an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in shares of Ovintiv during the 3rd quarter valued at about $65,000. Finally, International Assets Investment Management LLC bought a new position in shares of Ovintiv in the 2nd quarter valued at approximately $69,000. 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.