Citi Sticks to Its Hold Rating for Ovintiv (OVV)
Citi analyst Scott Gruber maintained a Hold rating on Ovintiv on April 2 and set a price target of $62.00. The company’s shares closed last Thursday at $59.18.
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According to TipRanks, Gruber is a 5-star analyst with an average return of 13.4% and a 57.97% success rate. Gruber covers the Energy sector, focusing on stocks such as Comstock Resources, Nabors Industries, and Patterson-UTI.
In addition to Citi, Ovintiv also received a Hold from TipRanks – Anthropic’s Anthropic Oil and Gas Exploration and Production in a report issued yesterday. However, on the same day, TipRanks – OpenAI upgraded Ovintiv (NYSE: OVV) to a Buy.
Based on Ovintiv’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.07 billion and a net profit of $946 million. In comparison, last year the company earned a revenue of $2.19 billion and had a GAAP net loss of $60 million
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OVV in relation to earlier this year. Last month, Meghan Nicole Eilers, the EVP, M&M & GC of OVV sold 11,582.00 shares for a total of $634,461.96.
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