Barclays analyst Betty Jiang maintained a Buy rating on Ovintiv (OVV – Research Report) today and set a price target of $69.00. The company’s shares closed yesterday at $52.77.
Jiang covers the Energy sector, focusing on stocks such as APA, Coterra Energy, and Conocophillips. According to TipRanks, Jiang has an average return of -2.3% and a 38.79% success rate on recommended stocks.
Currently, the analyst consensus on Ovintiv is a Strong Buy with an average price target of $59.99, implying a 13.68% upside from current levels. In a report released on April 19, Seaport Global also maintained a Buy rating on the stock with a $61.00 price target.
Based on Ovintiv’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.97 billion and a net profit of $856 million. In comparison, last year the company earned a revenue of $832 million and had a net profit of $4.88 billion
Based on the recent corporate insider activity of 36 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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