Ovintiv (NYSE:OVV) Price Target Raised to $45.00

Ovintiv (NYSE:OVV) had its target price boosted by equities research analysts at Wells Fargo & Company from $44.00 to $45.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 8.37% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Bank of America raised shares of Ovintiv from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $55.00 to $54.00 in a research report on Monday, January 13th. Mizuho dropped their target price on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. National Bankshares boosted their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Citigroup dropped their target price on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.78.

Ovintiv Trading Down 1.4 %

NYSE:OVV opened at $41.52 on Thursday. Ovintiv has a 12 month low of $36.62 and a 12 month high of $55.95. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 5.51 and a beta of 2.55. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $42.80 and its 200-day moving average is $41.79.

Institutional Investors Weigh In On Ovintiv

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ovintiv by 198.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,622 shares of the company’s stock valued at $1,605,000 after purchasing an additional 26,366 shares in the last quarter. PKO Investment Management Joint Stock Co acquired a new stake in shares of Ovintiv in the 4th quarter valued at $344,000. Siemens Fonds Invest GmbH acquired a new stake in shares of Ovintiv in the 4th quarter valued at $1,348,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Ovintiv in the 4th quarter valued at $4,949,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Ovintiv in the 4th quarter valued at $5,289,000. Institutional investors and hedge funds 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.