Ovintiv (NYSE:OVV) Price Target Cut to $60.00 by Analysts at Mizuho

Ovintiv (NYSE:OVV) had its price target reduced by analysts at Mizuho from $63.00 to $60.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 48.11% from the stock’s previous close.

OVV has been the subject of several other reports. Morgan Stanley reduced their price target on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Citigroup decreased their price target on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. JPMorgan Chase & Co. dropped their price objective on shares of Ovintiv from $60.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Wells Fargo & Company cut their price objective on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, October 1st. Finally, UBS Group dropped their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.59.

Ovintiv Trading Down 1.9 %

Shares of OVV stock opened at $40.51 on Monday. Ovintiv has a 12-month low of $36.90 and a 12-month high of $55.95. The company has a market capitalization of $10.55 billion, a PE ratio of 5.37 and a beta of 2.63. The firm has a 50 day moving average price of $42.32 and a two-hundred day moving average price of $43.55. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46.

Hedge Funds Weigh In On Ovintiv

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its position in Ovintiv by 1.2% during the 3rd quarter. Raymond James & Associates now owns 196,518 shares of the company’s stock worth $7,529,000 after buying an additional 2,275 shares during the period. Quarry LP lifted its holdings in shares of Ovintiv by 89.1% during the second quarter. Quarry LP now owns 40,902 shares of the company’s stock worth $1,917,000 after purchasing an additional 19,272 shares during the period. Smead Capital Management Inc. grew its stake in shares of Ovintiv by 3.5% in the third quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock worth $241,476,000 after purchasing an additional 212,535 shares during the last quarter. Entropy Technologies LP raised its position in Ovintiv by 319.9% during the 3rd quarter. Entropy Technologies LP now owns 149,457 shares of the company’s stock worth $5,726,000 after purchasing an additional 113,866 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Ovintiv by 8.9% during the 3rd quarter. KBC Group NV now owns 333,207 shares of the company’s stock worth $12,765,000 after buying an additional 27,338 shares during the period. Institutional investors own 83.81% of the company’s stock.

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.