Ovintiv (NYSE:OVV) Research Coverage Started at William Blair

William Blair began coverage on shares of Ovintiv (NYSE:OVV) in a research note released on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $50.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada set a $55.00 price objective on shares of Ovintiv and gave the company an “outperform” rating in a report on Wednesday, October 15th. JPMorgan Chase & Co. dropped their target price on Ovintiv from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. Wells Fargo & Company boosted their price target on Ovintiv from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 18th. National Bankshares dropped their price objective on Ovintiv from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Finally, Mizuho cut their target price on Ovintiv from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Ovintiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.83.

Ovintiv Stock Up 1.0%

NYSE:OVV opened at $40.87 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. Ovintiv has a 1-year low of $29.80 and a 1-year high of $46.35. The company has a 50-day moving average of $38.80 and a 200 day moving average of $39.46. The firm has a market cap of $10.35 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.89 and a beta of 1.00.

Ovintiv (NYSE:OVV) last posted its earnings results on Tuesday, November 4th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. Ovintiv had a net margin of 6.46% and a return on equity of 14.24%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.86 billion. As a group, research analysts anticipate that Ovintiv will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 15th. Ovintiv’s payout ratio is 131.87%.

Institutional Investors Weigh In On Ovintiv

Several institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its holdings in shares of Ovintiv by 258.2% during the third quarter. CIBC Private Wealth Group LLC now owns 1,576 shares of the company’s stock valued at $64,000 after acquiring an additional 1,136 shares in the last quarter. Caerus Investment Advisors LLC purchased a new stake in Ovintiv during the 3rd quarter worth approximately $629,000. Captrust Financial Advisors grew its position in Ovintiv by 237.9% during the 3rd quarter. Captrust Financial Advisors now owns 39,689 shares of the company’s stock worth $1,603,000 after purchasing an additional 27,942 shares during the last quarter. Advisory Services Network LLC acquired a new position in Ovintiv during the 3rd quarter valued at approximately $58,000. Finally, Financial Engines Advisors L.L.C. raised its holdings in shares of Ovintiv by 36.2% in the third quarter. Financial Engines Advisors L.L.C. now owns 20,139 shares of the company’s stock worth $813,000 after buying an additional 5,358 shares during the last quarter. Institutional investors and hedge funds 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.