During the last three months, 8 analysts shared their evaluations of Ovintiv (NYSE:OVV), revealing diverse outlooks from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 3 | 2 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 2 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 1 | 0 | 0 |
| 3M Ago | 2 | 0 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $60.88, a high estimate of $70.00, and a low estimate of $52.00. Witnessing a positive shift, the current average has risen by 0.74% from the previous average price target of $60.43.
Deciphering Analyst Ratings: An In-Depth Analysis
The analysis of recent analyst actions sheds light on the perception of Ovintiv by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Roger Read | Wells Fargo | Lowers | Equal-Weight | $52.00 | $54.00 |
| Jason Bouvier | Scotiabank | Raises | Sector Outperform | $60.00 | $58.00 |
| Stephen Richardson | Evercore ISI Group | Maintains | Outperform | $60.00 | $60.00 |
| Noah Hungness | B of A Securities | Announces | Neutral | $55.00 | - |
| Stephen Richardson | Evercore ISI Group | Maintains | Outperform | $60.00 | $60.00 |
| 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 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Ovintiv. This insight gives a snapshot of analysts' perspectives on 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: Gaining insights, analysts provide estimates for the future value of Ovintiv's stock. This comparison reveals trends in analysts' expectations over time.
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.
All You Need to Know About 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.
Ovintiv: A Financial Overview
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Negative Revenue Trend: Examining Ovintiv's financials over 3 months reveals challenges. As of 31 March, 2024, the company experienced a decline of approximately -7.8% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Ovintiv's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 14.37%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 3.28%, the company showcases effective utilization of 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 stands notably higher than the industry average, reaching 0.69. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
What Are Analyst Ratings?
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
This article was generated by Benzinga's automated content engine and reviewed by an editor.