UBS Group Issues Positive Forecast for Ovintiv (NYSE:OVV) Stock Price

Ovintiv (NYSE:OVV) had its price objective hoisted by stock analysts at UBS Group from $57.00 to $59.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 31.49% from the stock’s previous close.

OVV has been the topic of a number of other research reports. Wells Fargo & Company reduced their price objective on Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 1st. Evercore ISI decreased their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Truist Financial lifted their price objective on shares of Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Scotiabank upped their target price on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a research note on Monday. Finally, Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.71.

Ovintiv Trading Up 2.5 %

Shares of OVV stock traded up $1.08 during mid-day trading on Monday, reaching $44.87. The company’s stock had a trading volume of 1,484,674 shares, compared to its average volume of 3,076,473. 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 firm has a market capitalization of $11.68 billion, a PE ratio of 5.96, a price-to-earnings-growth ratio of 7.97 and a beta of 2.62. The company’s 50 day simple moving average is $40.71 and its 200-day simple moving average is $44.41. Ovintiv has a 12-month low of $36.90 and a 12-month high of $55.95.

Institutional Trading of Ovintiv

Institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC lifted its position in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares during the period. Innealta Capital LLC acquired a new stake in Ovintiv in the 2nd quarter valued at about $39,000. UMB Bank n.a. boosted its position in shares of Ovintiv by 27.7% during the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after purchasing an additional 286 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Ovintiv in the 2nd quarter worth approximately $69,000. Finally, Covestor Ltd lifted its stake in Ovintiv by 23.1% during the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock valued at $81,000 after purchasing an additional 293 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

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.