Ovintiv Inc. (NYSE:OVV) Given Average Recommendation of “Moderate Buy” by Brokerages

Ovintiv Inc. (NYSE:OVV) has earned an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $58.65.

Several equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Ovintiv from $69.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Barclays assumed coverage on shares of Ovintiv in a research note on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of Ovintiv from $47.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Morgan Stanley upped their price objective on shares of Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Evercore ISI raised shares of Ovintiv from an “in-line” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Friday, June 14th.

Insider Transactions at Ovintiv

In other news, Director Steven W. Nance sold 12,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $50.00, for a total value of $600,000.00. Following the completion of the sale, the director now owns 8,929 shares of the company’s stock, valued at $446,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Steven W. Nance sold 12,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $50.00, for a total transaction of $600,000.00. Following the completion of the sale, the director now directly owns 8,929 shares of the company’s stock, valued at approximately $446,450. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Howard John Mayson sold 4,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $51.14, for a total transaction of $204,560.00. Following the sale, the director now directly owns 45,279 shares of the company’s stock, valued at $2,315,568.06. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Ovintiv

A number of large investors have recently added to or reduced their stakes in OVV. Westfield Capital Management Co. LP boosted its stake in Ovintiv by 3.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,447,248 shares of the company’s stock valued at $63,563,000 after acquiring an additional 44,241 shares during the last quarter. TD Asset Management Inc boosted its stake in Ovintiv by 176.3% during the 4th quarter. TD Asset Management Inc now owns 46,149 shares of the company’s stock valued at $2,027,000 after acquiring an additional 29,449 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Ovintiv by 1,202.0% during the 4th quarter. International Assets Investment Management LLC now owns 13,879 shares of the company’s stock valued at $610,000 after acquiring an additional 12,813 shares during the last quarter. Toronto Dominion Bank boosted its stake in Ovintiv by 15.5% during the 3rd quarter. Toronto Dominion Bank now owns 761,303 shares of the company’s stock valued at $36,215,000 after acquiring an additional 101,978 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Ovintiv by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 27,029,983 shares of the company’s stock valued at $1,285,816,000 after acquiring an additional 2,484,554 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Stock Down 1.2 %

Shares of NYSE OVV opened at $46.05 on Monday. Ovintiv has a 12-month low of $34.50 and a 12-month high of $55.95. The company has a market capitalization of $12.29 billion, a PE ratio of 6.43 and a beta of 2.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.52 and a quick ratio of 0.52. The firm’s 50-day moving average is $49.78 and its two-hundred day moving average is $47.38.

Ovintiv (NYSE:OVV) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. Ovintiv had a net margin of 18.12% and a return on equity of 17.74%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.58 billion. Equities analysts anticipate that Ovintiv will post 6.11 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, June 14th. Ovintiv’s payout ratio is currently 16.76%.

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.