Shares of Ovintiv Inc. (NYSE:OVV – Get Rating) saw an uptick in trading volume on Friday . 213,770 shares traded hands during mid-day trading, a decline of 94% from the previous session's volume of 3,393,879 shares.The stock last traded at $45.77 and had previously closed at $45.52.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on OVV. National Bank Financial upped their price target on shares of Ovintiv from $90.00 to $115.00 in a research report on Thursday, June 16th. Mizuho dropped their target price on shares of Ovintiv from $77.00 to $69.00 and set a "buy" rating for the company in a research report on Tuesday, July 19th. Barclays upped their target price on shares of Ovintiv from $75.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, September 26th. Truist Financial upped their target price on shares of Ovintiv from $72.00 to $77.00 and gave the stock a "buy" rating in a research report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ovintiv from $64.00 to $66.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 13th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Ovintiv has an average rating of "Moderate Buy" and an average target price of $70.29.
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Ovintiv Trading Up 1.1 %
The company has a market cap of $11.70 billion, a PE ratio of 10.32, a P/E/G ratio of 0.10 and a beta of 2.99. The stock's 50 day moving average is $49.42 and its 200-day moving average is $49.83. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.63.
Ovintiv Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, September 14th.
Institutional Investors Weigh In On Ovintiv
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Private Capital Group LLC raised its stake in shares of Ovintiv by 7.1% in the second quarter. Private Capital Group LLC now owns 3,114 shares of the company's stock valued at $138,000 after acquiring an additional 207 shares during the period. CWM LLC raised its stake in shares of Ovintiv by 20.1% in the second quarter. CWM LLC now owns 1,460 shares of the company's stock valued at $65,000 after acquiring an additional 244 shares during the period. Veriti Management LLC raised its stake in shares of Ovintiv by 5.2% in the second quarter. Veriti Management LLC now owns 5,326 shares of the company's stock valued at $235,000 after acquiring an additional 263 shares during the period. Diversified Trust Co raised its stake in shares of Ovintiv by 0.8% in the first quarter. Diversified Trust Co now owns 34,031 shares of the company's stock valued at $1,840,000 after acquiring an additional 286 shares during the period. Finally, Gateway Investment Advisers LLC raised its stake in shares of Ovintiv by 1.3% in the second quarter. Gateway Investment Advisers LLC now owns 23,074 shares of the company's stock valued at $1,020,000 after acquiring an additional 293 shares during the period. Hedge funds and other institutional investors own 78.26% of the company's stock.
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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