Ovintiv (NYSE:OVV) Upgraded by Siebert Williams Shank to “Strong-Buy”

Ovintiv (NYSE:OVV) was upgraded by equities researchers at Siebert Williams Shank to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports.

Other analysts have also issued research reports about the stock. Truist Financial lowered their price objective on shares of Ovintiv from $62.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Citigroup dropped their target price on Ovintiv from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, October 7th. Evercore ISI cut their target price on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Finally, Mizuho lowered their price target on Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ovintiv presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Ovintiv Stock Up 0.1 %

Ovintiv stock opened at $41.10 on Tuesday. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 8.02 and a beta of 2.61. Ovintiv has a 52-week low of $36.90 and a 52-week high of $55.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a 50 day moving average price of $41.47 and a two-hundred day moving average price of $46.36.

Ovintiv (NYSE:OVV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.53 billion. Ovintiv had a return on equity of 18.28% and a net margin of 18.56%. Equities analysts predict that Ovintiv will post 4.9 EPS for the current year.

Hedge Funds Weigh In On Ovintiv

Several institutional investors and hedge funds have recently bought and sold shares of the company. American National Bank bought a new stake in shares of Ovintiv in the first quarter valued at $27,000. Innealta Capital LLC purchased a new stake in Ovintiv in the 2nd quarter worth about $39,000. Geneos Wealth Management Inc. raised its stake in Ovintiv by 53.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock valued at $45,000 after acquiring an additional 300 shares during the period. UMB Bank n.a. lifted its holdings in Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Ovintiv during the second quarter worth about $69,000. 83.81% of the stock is owned by institutional investors.

Ovintiv Company Profile

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.