Ovintiv (NYSE:OVV) Sees Strong Trading Volume

Ovintiv Inc. (NYSE:OVVGet Rating) saw an uptick in trading volume on Friday . 169,757 shares traded hands during mid-day trading, a decline of 94% from the previous session’s volume of 2,954,977 shares.The stock last traded at $42.67 and had previously closed at $46.79.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OVV. Royal Bank of Canada lifted their target price on shares of Ovintiv from $51.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday. Truist Financial upped their target price on Ovintiv from $72.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. Bank of America increased their target price on Ovintiv from $60.00 to $70.00 in a report on Tuesday. Barclays boosted their price target on Ovintiv from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 31st. Finally, National Bankshares decreased their price objective on Ovintiv from $100.00 to $99.00 and set an “outperform” rating on the stock in a research note on Thursday, August 4th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.78.

Ovintiv Trading Down 9.2 %

The company has a market capitalization of $10.81 billion, a PE ratio of 10.88, a P/E/G ratio of 0.10 and a beta of 2.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.51 and a current ratio of 0.51. The business has a fifty day moving average price of $49.55 and a 200 day moving average price of $49.88.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 annualized dividend and a yield of 2.35%.

Institutional Investors Weigh In On Ovintiv

Institutional investors have recently bought and sold shares of the business. Bay Harbor Wealth Management LLC purchased a new stake in Ovintiv during the 2nd quarter worth $29,000. Ronald Blue Trust Inc. purchased a new stake in shares of Ovintiv in the second quarter worth about $31,000. Rosenberg Matthew Hamilton grew its stake in shares of Ovintiv by 114.3% in the second quarter. Rosenberg Matthew Hamilton now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 400 shares in the last quarter. CWM LLC raised its holdings in shares of Ovintiv by 20.1% during the 2nd quarter. CWM LLC now owns 1,460 shares of the company’s stock valued at $65,000 after buying an additional 244 shares during the period. Finally, Raleigh Capital Management Inc. purchased a new stake in shares of Ovintiv during the 2nd quarter valued at about $69,000. 78.26% of the stock is currently owned by hedge funds and other institutional investors.

Ovintiv Company Profile

(Get Rating)

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.

Featured Stories

Receive News & Ratings for Ovintiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovintiv and related companies with MarketBeat.com's FREE daily email newsletter.