Throughout the last three months, 12 analysts have evaluated Ovintiv OVV, offering a diverse set of opinions from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 8 | 1 | 3 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 0 | 0 | 0 | 0 |
| 2M Ago | 2 | 0 | 1 | 0 | 0 |
| 3M Ago | 3 | 1 | 2 | 0 | 0 |
Analysts have set 12-month price targets for Ovintiv, revealing an average target of $61.58, a high estimate of $70.00, and a low estimate of $49.00. This upward trend is evident, with the current average reflecting a 8.38% increase from the previous average price target of $56.82.
Interpreting Analyst Ratings: A Closer Look
The standing of Ovintiv among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Gabe Daoud | TD Cowen | Raises | Buy | $66.00 | $64.00 |
| Josh Silverstein | UBS | Raises | Buy | $70.00 | $69.00 |
| Nitin Kumar | Mizuho | Raises | Buy | $64.00 | $58.00 |
| Devin McDermott | Morgan Stanley | Raises | Equal-Weight | $53.00 | $49.00 |
| Lloyd Byrne | Jefferies | Raises | Buy | $69.00 | $59.00 |
| Josh Silverstein | UBS | Raises | Buy | $69.00 | $62.00 |
| Betty Jiang | Barclays | Announces | Overweight | $69.00 | - |
| Nitin Kumar | Mizuho | Maintains | Buy | $58.00 | $58.00 |
| Devin McDermott | Morgan Stanley | Raises | Equal-Weight | $49.00 | $48.00 |
| Neil Mehta | Goldman Sachs | Raises | Neutral | $56.00 | $47.00 |
| Nitin Kumar | Mizuho | Lowers | Buy | $58.00 | $59.00 |
| Brian Downey | Citigroup | Raises | Buy | $58.00 | $52.00 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Ovintiv. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Ovintiv compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Ovintiv's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Ovintiv's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Ovintiv analyst ratings.
Unveiling the Story Behind Ovintiv
Ovintiv is a North American oil and natural gas exploration and production company. It focuses on the exploration and development of oil, NGLs, and natural gas reserves. The company has three segments: USA Operations, Canadian Operations, and Market Optimization.
Breaking Down Ovintiv's Financial Performance
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Ovintiv's revenue growth over a period of 3 months has faced challenges. As of 31 March, 2024, the company experienced a revenue decline of approximately -7.8%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 14.37%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Ovintiv's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.28% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Ovintiv's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.7%, the company showcases efficient use of assets and strong financial health.
Debt Management: Ovintiv's debt-to-equity ratio surpasses industry norms, standing at 0.69. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
What Are Analyst Ratings?
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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