Analysts Set Ovintiv Inc. (NYSE:OVV) PT at $51.25

Shares of Ovintiv Inc. (NYSE:OVV) have received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $51.25.

OVV has been the topic of several analyst reports. Barclays cut their price target on shares of Ovintiv from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Roth Capital started coverage on shares of Ovintiv in a research report on Monday, October 13th. They set a “neutral” rating and a $42.00 target price on the stock. Royal Bank Of Canada set a $55.00 target price on Ovintiv and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Zacks Research raised Ovintiv from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price target on Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd.

Insider Buying and Selling at Ovintiv

In related news, COO Gregory Dean Givens sold 50,000 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the transaction, the chief operating officer owned 105,867 shares in the company, valued at approximately $4,269,616.11. This represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Ovintiv

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its holdings in Ovintiv by 70.9% during the first quarter. Integrated Wealth Concepts LLC now owns 9,127 shares of the company’s stock valued at $391,000 after purchasing an additional 3,788 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Ovintiv in the first quarter valued at approximately $202,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Ovintiv by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,136,480 shares of the company’s stock valued at $48,641,000 after purchasing an additional 91,601 shares during the period. Focus Partners Wealth lifted its stake in shares of Ovintiv by 49.3% during the 1st quarter. Focus Partners Wealth now owns 19,282 shares of the company’s stock valued at $825,000 after buying an additional 6,364 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Ovintiv by 31.6% in the 1st quarter. Intech Investment Management LLC now owns 51,109 shares of the company’s stock worth $2,187,000 after buying an additional 12,274 shares during the period. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Ovintiv Stock Down 1.1%

OVV stock opened at $39.93 on Tuesday. The firm has a market capitalization of $10.11 billion, a PE ratio of 43.88, a P/E/G ratio of 2.17 and a beta of 0.76. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.43. Ovintiv has a twelve month low of $29.80 and a twelve month high of $46.35. The stock’s 50 day moving average is $39.39 and its 200-day moving average is $39.72.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.86 billion. Ovintiv had a return on equity of 12.22% and a net margin of 2.64%. Sell-side analysts expect that Ovintiv will post 5.59 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, December 15th. Ovintiv’s payout ratio is presently 131.87%.

About Ovintiv

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.