In a report released today, Roger Read from Wells Fargo maintained a Hold rating on Ovintiv (OVV – Research Report), with a price target of $54.00. The company’s shares closed yesterday at $50.62.
According to TipRanks, Read is a 5-star analyst with an average return of 10.6% and a 63.41% success rate. Read covers the Energy sector, focusing on stocks such as Shell, Coterra Energy, and Chevron.
Currently, the analyst consensus on Ovintiv is a Moderate Buy with an average price target of $55.00, an 8.65% upside from current levels. In a report released on February 28, RBC Capital also maintained a Hold rating on the stock with a $49.00 price target.
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OVV market cap is currently $13.33B and has a P/E ratio of 6.41.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OVV in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ovintiv (OVV) Company Description:
Ovintiv, Inc. produces and develops multi-basin portfolio of oil, natural gas liquids and natural gas producing plays. The firm operates through the following segments: Canadian Operations, USA Operations and Market Optimization. The Canadian Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within Canada. The USA Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within the United States. The Market Optimization segment’s activities are managed by the Midstream, Marketing & Fundamentals team, which is primarily responsible for the sale of the Company’s proprietary production to third party customers. The company was founded in 1881 and is headquartered in Denver, CO.
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