Ovintiv (NYSE:OVV) PT Raised to $65.00 at Citigroup

Ovintiv (NYSE:OVVGet Rating) had its price objective boosted by analysts at Citigroup from $57.00 to $65.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 38.92% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Cowen increased their price objective on shares of Ovintiv to $78.00 in a research note on Tuesday, August 9th. Bank of America increased their price target on shares of Ovintiv from $60.00 to $70.00 in a report on Tuesday. Morgan Stanley lowered their price target on shares of Ovintiv from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Truist Financial raised their target price on shares of Ovintiv from $72.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, July 19th. Finally, National Bankshares lowered their target price on shares of Ovintiv from $100.00 to $99.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.78.

Ovintiv Trading Down 2.5 %

Ovintiv stock opened at $46.79 on Wednesday. The firm has a 50-day moving average of $49.55 and a 200-day moving average of $49.88. Ovintiv has a one year low of $29.52 and a one year high of $63.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.11 and a beta of 2.99.

Institutional Trading of Ovintiv

Several institutional investors and hedge funds have recently modified their holdings of the stock. 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 worth $138,000 after purchasing an additional 207 shares during the last quarter. CWM LLC grew its holdings 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 in the last quarter. Veriti Management LLC grew its holdings 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 in the last quarter. Diversified Trust Co grew its holdings 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 in the last quarter. Finally, Gateway Investment Advisers LLC grew its holdings 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 in the last quarter. 78.26% of the stock is owned by hedge funds and other institutional investors.

About Ovintiv

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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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