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

Shares of Ovintiv Inc. (NYSE:OVV) have received an average recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $52.7222.

OVV has been the topic of several recent analyst reports. Stephens raised shares of Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. National Bank Financial boosted their price objective on Ovintiv from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Evercore restated an “outperform” rating and issued a $47.00 price objective on shares of Ovintiv in a research note on Thursday, November 6th. Zacks Research cut Ovintiv from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Finally, Citigroup reduced their price target on shares of Ovintiv from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th.

Ovintiv Price Performance

Shares of NYSE:OVV opened at $51.74 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market cap of $14.66 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 2.82 and a beta of 0.69. The stock’s fifty day simple moving average is $43.44 and its two-hundred day simple moving average is $41.02. Ovintiv has a 1-year low of $29.80 and a 1-year high of $53.21.

Ovintiv (NYSE:OVV) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.41. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm earned ($0.23) earnings per share. As a group, analysts forecast that Ovintiv will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 13th. Ovintiv’s payout ratio is 24.79%.

Insiders Place Their Bets

In other Ovintiv news, COO Gregory Dean Givens sold 50,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $40.33, for a total transaction of $2,016,500.00. Following the completion of the transaction, the chief operating officer directly owned 105,867 shares of the company’s stock, valued at approximately $4,269,616.11. This represents a 32.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Stifel Financial Corp raised its position in shares of Ovintiv by 1.4% in the fourth quarter. Stifel Financial Corp now owns 19,113 shares of the company’s stock valued at $749,000 after purchasing an additional 269 shares during the period. Deseret Mutual Benefit Administrators grew its stake in Ovintiv by 27.6% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock valued at $52,000 after buying an additional 287 shares in the last quarter. Fiduciary Financial Group LLC raised its holdings in Ovintiv by 3.2% during the 4th quarter. Fiduciary Financial Group LLC now owns 9,460 shares of the company’s stock valued at $371,000 after acquiring an additional 297 shares during the period. PNC Financial Services Group Inc. raised its holdings in Ovintiv by 2.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,834 shares of the company’s stock valued at $599,000 after acquiring an additional 340 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Ovintiv by 9.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,150 shares of the company’s stock worth $163,000 after acquiring an additional 362 shares during the period. Institutional investors own 83.81% of the company’s stock.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.