Ovintiv (NYSE:OVV) PT Set at $60.00 by Raymond James

Raymond James set a $60.00 target price on Ovintiv (NYSE:OVVGet Rating) in a report released on Tuesday morning, BayStreet.CA reports. The firm currently has a market perform rating on the stock.

Several other research firms have also issued reports on OVV. Truist Financial increased their price objective on Ovintiv from $68.00 to $80.00 in a research note on Thursday, April 21st. Capital One Financial upgraded Ovintiv from an equal weight rating to an overweight rating and increased their target price for the stock from $61.00 to $82.00 in a report on Wednesday, March 23rd. National Bankshares decreased their target price on Ovintiv from $90.00 to $60.00 in a report on Thursday, April 14th. Wells Fargo & Company increased their target price on Ovintiv from $52.00 to $72.00 and gave the stock an overweight rating in a report on Monday, March 14th. Finally, Mizuho increased their target price on Ovintiv from $54.00 to $78.00 and gave the stock a buy rating in a report on Thursday, March 31st. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $56.62.

Ovintiv stock opened at $45.15 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.54 and a quick ratio of 0.58. The stock has a fifty day moving average price of $50.61 and a two-hundred day moving average price of $42.13. Ovintiv has a 52-week low of $21.92 and a 52-week high of $57.60. The firm has a market capitalization of $11.68 billion, a P/E ratio of 9.79 and a beta of 3.17.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $0.25 per share. This is an increase from Ovintiv’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, June 14th.

In related news, Director Thomas G. Ricks sold 10,000 shares of the business’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $53.73, for a total value of $537,300.00. Following the completion of the sale, the director now directly owns 145,500 shares in the company, valued at approximately $7,817,715. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard John Mayson sold 2,200 shares of the business’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $48.09, for a total value of $105,798.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OVV. Moors & Cabot Inc. acquired a new position in Ovintiv in the 3rd quarter valued at $25,000. Point72 Hong Kong Ltd acquired a new position in Ovintiv in the 3rd quarter worth about $33,000. NEXT Financial Group Inc increased its holdings in Ovintiv by 145.5% in the 4th quarter. NEXT Financial Group Inc now owns 1,041 shares of the company’s stock worth $35,000 after purchasing an additional 617 shares in the last quarter. UMB Bank N A MO acquired a new position in Ovintiv in the 4th quarter worth about $39,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in Ovintiv by 481.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,297 shares of the company’s stock worth $43,000 after purchasing an additional 1,074 shares in the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.

Ovintiv Company Profile (Get Rating)

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. 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.

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