Barclays Increases Ovintiv (NYSE:OVV) Price Target to $57.00

Ovintiv (NYSE:OVV) had its price target boosted by equities researchers at Barclays from $53.00 to $57.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 30.17% from the stock’s current price.

OVV has been the topic of several other research reports. Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. UBS Group cut their price target on shares of Ovintiv from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company lowered their price objective on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Wolfe Research began coverage on shares of Ovintiv in a research report on Thursday, July 18th. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ovintiv presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Ovintiv Trading Down 2.1 %

Shares of OVV stock opened at $43.79 on Friday. The firm has a market cap of $11.40 billion, a P/E ratio of 5.81, a PEG ratio of 7.64 and a beta of 2.62. Ovintiv has a 1-year low of $36.90 and a 1-year high of $55.95. 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 firm’s 50-day simple moving average is $40.71 and its 200-day simple moving average is $44.45.

Institutional Trading of Ovintiv

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Ovintiv by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock valued at $173,296,000 after acquiring an additional 205,409 shares during the period. M&T Bank Corp lifted its position in shares of Ovintiv by 21.2% during the 3rd quarter. M&T Bank Corp now owns 16,278 shares of the company’s stock valued at $624,000 after acquiring an additional 2,850 shares during the period. Y Intercept Hong Kong Ltd lifted its position in shares of Ovintiv by 64.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 59,856 shares of the company’s stock valued at $2,293,000 after acquiring an additional 23,452 shares during the period. MML Investors Services LLC lifted its position in shares of Ovintiv by 11.3% during the 3rd quarter. MML Investors Services LLC now owns 10,570 shares of the company’s stock valued at $405,000 after acquiring an additional 1,074 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Ovintiv by 5.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 42,304 shares of the company’s stock valued at $1,621,000 after acquiring an additional 2,244 shares during the period. 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.