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Ovintiv (OVV) Gets a Buy from Wells Fargo

Tipranks - Sat Jul 4, 12:54PM CDT

Wells Fargo analyst Sam Margolin maintained a Buy rating on Ovintiv yesterday and set a price target of $80.00. The company’s shares closed yesterday at $52.96.

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According to TipRanks, Margolin is a 5-star analyst with an average return of 11.5% and a 66.44% success rate. Margolin covers the Energy sector, focusing on stocks such as BP, Chevron, and Marathon Petroleum.

In addition to Wells Fargo, Ovintiv also received a Buy from William Blair’s Neal Dingmann in a report issued on June 26. However, on June 29, Morgan Stanley maintained a Hold rating on Ovintiv (NYSE: OVV).

Based on Ovintiv’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.53 billion and a GAAP net loss of $630 million. In comparison, last year the company earned a revenue of $2.38 billion and had a GAAP net loss of $159 million

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