Ovintiv (NYSE:OVV) Price Target Raised to $60.00 at Truist Financial

Ovintiv (NYSE:OVV) had its price target boosted by investment analysts at Truist Financial from $59.00 to $60.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 32.57% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Citigroup cut their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Wells Fargo & Company lowered their target price on Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Mizuho lowered their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Morgan Stanley lowered their target price on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Four investment 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.81.

Ovintiv Stock Up 3.8 %

Ovintiv stock traded up $1.65 during mid-day trading on Monday, reaching $45.26. The stock had a trading volume of 357,088 shares, compared to its average volume of 2,016,406. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The stock’s 50-day simple moving average is $42.03 and its 200-day simple moving average is $42.51. The firm has a market capitalization of $11.78 billion, a PE ratio of 6.00 and a beta of 2.63.

Institutional Trading of Ovintiv

Several large investors have recently modified their holdings of the company. True Wealth Design LLC lifted its position in shares of Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock valued at $25,000 after acquiring an additional 636 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after acquiring an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in shares of Ovintiv in the third quarter valued at about $65,000. Covestor Ltd lifted its position in shares of Ovintiv by 43.9% in the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after acquiring an additional 560 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Ovintiv in the third quarter valued at about $122,000. Institutional investors own 83.81% of the company’s stock.

About Ovintiv

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.