Streetbeat News

OVV

Ovintiv Inc.

https://www.ovintiv.com

Industry

Oil & Gas Exploration & Production

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. Its other upstream assets comprise Bakken in North Dakota, and Uinta in central Utah; and Horn River in northeast British Columbia, and Wheatland in southern Alberta. The company was formerly known as Encana Corporation and changed its name to Ovintiv Inc. in January 2020. Ovintiv Inc. was incorporated in 2020 and is based in Denver, Colorado.

Open

44.50

Mkt cap

11B

Volume

3.8M

High

45.17

P/E Ratio

5.78

52-wk high

55.95

Low

43.49

Div yield

0.03

52-wk low

36.91

UBS analyst Josh Silverstein has maintained a Buy rating on Ovintiv (NYSE:OVV) but has reduced the price target from $63 to $57.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 4:46 pm

Energy stocks are trading lower due to a decline in oil prices, affecting companies like CEIX, CLNE, CNQ, CVE, HPK, MRO, NEXT, OVV, OXY, and ROI.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 6:04 pm

JP Morgan has upgraded its rating of Ovintiv (NYSE:OVV) to Overweight with a new price target of $58.00, down from the previous $61.00. Ovintiv's shares are currently trading at $42.30, and the new price target suggests a potential upside of 37.12%. Ovintiv is an independent oil and gas producer with significant reserves and production levels.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 5:00 pm

JP Morgan analyst Arun Jayaram has upgraded Ovintiv (NYSE:OVV) from Neutral to Overweight, indicating a positive outlook on the stock. However, the price target has been reduced from $61 to $58, suggesting some caution in the expected price appreciation.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 2:54 pm

Wells Fargo analyst Roger Read has maintained an Equal-Weight rating on Ovintiv (NYSE:OVV) and reduced the price target from $51 to $49.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:56 pm

Energy company stocks are down due to a decline in oil prices following OPEC+'s decision to postpone its meeting from Nov. 25-26 to Nov. 30.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:34 pm

Wall Street analysts have updated their price targets and ratings for several US-listed companies. Telsey Advisory Group raised Hibbett, Inc.'s target to $73 and maintained an Outperform rating. Piper Sandler downgraded Autodesk, Inc. and cut its target to $215. TD Cowen raised Jack in the Box Inc.'s target to $71 with a Market Perform rating. Keybanc reduced Salesforce, Inc.'s target to $268 but kept an Overweight rating. RBC Capital increased GoDaddy Inc.'s target to $124 and upgraded the stock to Outperform. JP Morgan raised The Clorox Company's target to $145 and upgraded it to Neutral. Morgan Stanley downgraded Virgin Galactic Holdings, Inc. and slashed its target to $1.75. Telsey Advisory Group increased DICK'S Sporting Goods, Inc.'s target to $145 with an Outperform rating. Telsey also lowered Best Buy Co., Inc.'s target to $75 with a Market Perform rating. Lastly, Citigroup upgraded Ovintiv Inc. to Buy and raised its target to $52.

Portfolio Pulse from Lisa Levin

November 22, 2023 | 12:54 pm

Over the last quarter, Ovintiv (NYSE:OVV) received 6 analyst ratings, with 3 being bullish and 3 indifferent. No somewhat bullish or bearish ratings were given. The average 12-month price target for Ovintiv is $55.00, with a high of $67.00 and a low of $47.00. This target has increased by 4.76% over the past month. Analyst ratings are provided quarterly and are based on financial statements, meetings, and insider information, but they are subject to human error.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 12:00 pm

Citigroup analyst Brian Downey upgraded Ovintiv (NYSE:OVV) from Neutral to Buy and increased the price target from $48 to $52, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 11:49 am

Ovintiv Inc. (NYSE:OVV) announced the upsize and pricing of an underwritten public offering of its common stock by NMB Stock Trust. The offering size increased from 8.4 million to 9.4 million shares at $44.35 per share, totaling approximately $416.9 million. Ovintiv will not sell any shares nor receive proceeds from this offering. The offering is expected to close on November 22, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 7:35 am

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