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

Ovintiv (NYSE:OVV) had its target price cut by analysts at UBS Group from $59.00 to $56.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 35.46% from the company’s current price.

A number of other research analysts have also weighed in on the company. Citigroup cut their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Evercore ISI cut their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Truist Financial increased their price objective on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 15th. Morgan Stanley cut their price objective on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Barclays increased their price objective on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.47.

Ovintiv Trading Down 0.0 %

OVV opened at $41.34 on Monday. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 5.55 and a beta of 2.63. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. Ovintiv has a 12 month low of $36.90 and a 12 month high of $55.95. The stock has a fifty day moving average price of $42.38 and a 200-day moving average price of $43.76.

Institutional Trading of Ovintiv

Several institutional investors have recently bought and sold shares of OVV. Pacer Advisors Inc. grew its holdings in Ovintiv by 11,282.4% in the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after purchasing an additional 6,486,159 shares during the period. AQR Capital Management LLC grew its holdings in Ovintiv by 114.9% in the second quarter. AQR Capital Management LLC now owns 3,027,292 shares of the company’s stock valued at $141,889,000 after purchasing an additional 1,618,556 shares during the period. Assenagon Asset Management S.A. grew its holdings in Ovintiv by 7,422.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,359,014 shares of the company’s stock valued at $52,064,000 after purchasing an additional 1,340,947 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after purchasing an additional 1,207,610 shares during the period. Finally, SIR Capital Management L.P. acquired a new stake in Ovintiv in the second quarter valued at approximately $22,732,000. 83.81% of the stock is owned by institutional investors and hedge funds.

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.