Morgan Stanley Keeps Their Hold Rating on Ovintiv (OVV)
In a report released today, Devin McDermott from Morgan Stanley maintained a Hold rating on Ovintiv, with a price target of $55.72.
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According to TipRanks, McDermott is a 5-star analyst with an average return of 11.2% and a 59.27% success rate. McDermott covers the Energy sector, focusing on stocks such as Expand Energy, APA, and Devon Energy.
In addition to Morgan Stanley, Ovintiv also received a Hold from Citi’s Scott Gruber in a report issued on April 2. However, today, Barclays maintained a Buy rating on Ovintiv (NYSE: OVV).
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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