Ovintiv (NYSE:OVV) Price Target Lowered to $56.00 at UBS Group

Ovintiv (NYSE:OVV) had its price target decreased by UBS Group from $59.00 to $56.00 in a research report report published on Monday,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other brokerages have also commented on OVV. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company cut their target price on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Morgan Stanley reduced their price target on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Barclays raised their price objective on shares of Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. reduced their target price on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.47.

Ovintiv Trading Up 0.4 %

NYSE OVV opened at $41.37 on Monday. The stock has a market cap of $10.77 billion, a P/E ratio of 5.49 and a beta of 2.63. Ovintiv has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The stock has a 50 day simple moving average of $42.31 and a two-hundred day simple moving average of $43.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, December 13th. Ovintiv’s payout ratio is 15.92%.

Institutional Trading of Ovintiv

A number of institutional investors and hedge funds have recently bought and sold shares of OVV. True Wealth Design LLC lifted its stake in shares of Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after buying an additional 636 shares in the last quarter. Innealta Capital LLC purchased a new position in Ovintiv in the 2nd quarter worth approximately $39,000. UMB Bank n.a. lifted its position in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after acquiring an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Ovintiv during the 3rd quarter valued at $65,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Ovintiv in the 2nd quarter worth $69,000. 83.81% of the stock is currently owned by institutional investors.

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.