Ovintiv (NYSE:OVV) Given New $60.00 Price Target at Mizuho

Ovintiv (NYSE:OVV) had its target price reduced by Mizuho from $63.00 to $60.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently commented on OVV. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Evercore ISI dropped their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. Scotiabank boosted their price objective on Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 18th. Citigroup dropped their price objective on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Ovintiv from $60.00 to $51.00 and set an “overweight” rating on the stock in a research note 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.59.

Ovintiv Stock Down 1.9 %

Shares of Ovintiv stock opened at $39.76 on Monday. The business’s fifty day moving average price is $42.25 and its two-hundred day moving average price is $43.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $10.35 billion, a P/E ratio of 5.27 and a beta of 2.63. Ovintiv has a 1-year low of $36.90 and a 1-year high of $55.95.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.02%. Ovintiv’s dividend payout ratio is 15.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC grew its holdings in shares of Ovintiv by 3,180.0% during the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after buying an additional 636 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Ovintiv during the second quarter valued at $39,000. UMB Bank n.a. grew its holdings in shares of Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after buying an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Ovintiv in the third quarter valued at about $65,000. Finally, International Assets Investment Management LLC purchased a new position in Ovintiv in the second quarter valued at about $69,000. Hedge funds and other institutional investors 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.