Ovintiv (NYSE:OVV – Get Rating) had its price objective decreased by stock analysts at National Bankshares from $99.00 to $77.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. National Bankshares' price objective points to a potential upside of 67.35% from the company's previous close.
Several other research analysts also recently weighed in on the company. Bank of America increased their price target on Ovintiv from $60.00 to $70.00 in a research note on Tuesday, September 20th. Truist Financial increased their price target on Ovintiv from $72.00 to $77.00 and gave the stock a "buy" rating in a research note on Tuesday, July 19th. JPMorgan Chase & Co. increased their price target on Ovintiv from $64.00 to $66.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 13th. Mizuho cut their price target on Ovintiv from $77.00 to $69.00 and set a "buy" rating for the company in a research note on Tuesday, July 19th. Finally, Royal Bank of Canada increased their price target on Ovintiv from $51.00 to $56.00 and gave the stock an "outperform" rating in a research note on Monday, September 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.29.
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Ovintiv Stock Performance
Shares of Ovintiv stock traded up $0.49 during trading hours on Friday, hitting $46.01. 343,562 shares of the company's stock traded hands, compared to its average volume of 3,393,879. Ovintiv has a 12-month low of $29.52 and a 12-month high of $63.30. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 0.10 and a beta of 2.99. The company has a fifty day simple moving average of $49.39 and a 200-day simple moving average of $49.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.51 and a quick ratio of 0.51.
Hedge Funds Weigh In On Ovintiv
A number of large investors have recently modified their holdings of the company. Bay Harbor Wealth Management LLC purchased a new position in Ovintiv in the 2nd quarter worth approximately $29,000. Ronald Blue Trust Inc. purchased a new position in Ovintiv in the 2nd quarter worth approximately $31,000. Rosenberg Matthew Hamilton increased its stake in Ovintiv by 114.3% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 750 shares of the company's stock worth $33,000 after purchasing an additional 400 shares during the period. CWM LLC increased its stake in Ovintiv by 20.1% in the 2nd quarter. CWM LLC now owns 1,460 shares of the company's stock worth $65,000 after purchasing an additional 244 shares during the period. Finally, Raleigh Capital Management Inc. purchased a new position in Ovintiv in the 2nd quarter worth approximately $69,000. 78.26% of the stock is owned by hedge funds and other institutional investors.
Ovintiv Company Profile
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Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.
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