RBC Capital analyst Gregory Pardy maintained a Hold rating on Ovintiv (OVV) on February 22 and set a price target of $27.00. The company’s shares closed last Tuesday at $23.35, close to its 52-week high of $23.50.
According to TipRanks.com, Pardy is a 3-star analyst with an average return of 5.2% and a 50.2% success rate. Pardy covers the Utilities sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Cenovus Energy.
Currently, the analyst consensus on Ovintiv is a Hold with an average price target of $21.54, a -5.2% downside from current levels. In a report issued on February 18, TD Securities also maintained a Hold rating on the stock with a $24.00 price target.
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Ovintiv’s market cap is currently $6.07B and has a P/E ratio of -1.00. The company has a Price to Book ratio of 2.95.
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Ovintiv, Inc. produces and develops multi-basin portfolio of oil, natural gas liquids and natural gas producing plays. The firm operates through the following segments: Canadian Operations, USA Operations and Market Optimization. The Canadian Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within Canada. The USA Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within the United States. The Market Optimization segment’s activities are managed by the Midstream, Marketing & Fundamentals team, which is primarily responsible for the sale of the Company’s proprietary production to third party customers. The company was founded in 1881 and is headquartered in Denver, CO.
