Analysts Set Ovintiv Inc. (NYSE:OVV) PT at $51.47

Ovintiv Inc. (NYSE:OVV) has earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $51.4706.

Several equities analysts have weighed in on OVV shares. TD Cowen upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, July 7th. National Bankshares dropped their price target on shares of Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Morgan Stanley reduced their price objective on shares of Ovintiv from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Mizuho dropped their target price on shares of Ovintiv from $58.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. cut their target price on Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at $37.52 on Thursday. Ovintiv has a 52 week low of $29.80 and a 52 week high of $47.18. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $39.98 and a 200-day moving average price of $38.89. The company has a market cap of $9.64 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OVV. Atlas Capital Advisors Inc. increased its stake in shares of Ovintiv by 1,681.1% during the 1st quarter. Atlas Capital Advisors Inc. now owns 13,875 shares of the company’s stock worth $594,000 after purchasing an additional 13,096 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Ovintiv by 54.3% during the first quarter. BNP Paribas Financial Markets now owns 962,871 shares of the company’s stock valued at $41,211,000 after purchasing an additional 338,866 shares during the period. Raymond James Financial Inc. grew its holdings in Ovintiv by 204.2% during the first quarter. Raymond James Financial Inc. now owns 583,839 shares of the company’s stock valued at $24,988,000 after purchasing an additional 391,923 shares during the period. Charles Schwab Investment Management Inc. increased its position in Ovintiv by 383.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,258,570 shares of the company’s stock worth $396,267,000 after buying an additional 7,344,796 shares during the last quarter. Finally, Lifestyle Asset Management Inc. raised its stake in shares of Ovintiv by 46.8% in the second quarter. Lifestyle Asset Management Inc. now owns 28,170 shares of the company’s stock valued at $1,072,000 after buying an additional 8,987 shares during the period. 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.