National Bankshares Boosts Ovintiv (TSE:OVV) Price Target to C$68.00

Ovintiv (TSE:OVV) had its price objective increased by equities researchers at National Bankshares from C$59.00 to C$68.00 in a report released on Friday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ target price points to a potential downside of 4.99% from the stock’s current price.

Separately, Royal Bank of Canada upped their price target on shares of Ovintiv from C$48.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th.

Ovintiv Stock Up 0.1 %

Shares of TSE:OVV traded up C$0.07 during trading on Friday, reaching C$71.57. 21,903 shares of the company traded hands, compared to its average volume of 131,549. Ovintiv has a 1-year low of C$43.23 and a 1-year high of C$76.63. The company has a quick ratio of 0.51, a current ratio of 0.60 and a debt-to-equity ratio of 64.45. The firm has a market cap of C$19.25 billion, a P/E ratio of 6.66, a price-to-earnings-growth ratio of 0.05 and a beta of 2.67. The firm has a fifty day simple moving average of C$67.89 and a 200 day simple moving average of C$62.92.

Ovintiv (TSE:OVV) last released its quarterly earnings results on Tuesday, February 27th. The company reported C$3.20 EPS for the quarter, topping analysts’ consensus estimates of C$2.61 by C$0.59. The business had revenue of C$4.31 billion for the quarter, compared to analyst estimates of C$3.69 billion. Ovintiv had a return on equity of 23.09% and a net margin of 19.56%. Analysts anticipate that Ovintiv will post 8.5061453 earnings per share for the current fiscal year.

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.