|Over a week ago|
Ovintiv upgraded to Outperform at Cowen » 07:4408/2408/24/21
As reported previously,…
As reported previously, Cowen analyst Gabe Daoud upgraded Ovintiv to Outperform from Market Perform with a price target of $39, down from $40. The analyst said the company stands out with best-in-class yield and 'rate of change' potential on RoC given its leverage to all three commodities (oil, natgas, NGLs), along with across the board pricing strength and capital efficiency gains.
Ovintiv upgraded to Outperform from Market Perform at Cowen » 05:4508/2408/24/21
Cowen analyst Gabe Daoud…
Cowen analyst Gabe Daoud upgraded Ovintiv to Outperform from Market Perform with a price target of $39, down from $40.
|Over a month ago|
Ovintiv reinstated with Buy on debt reduction plan at BofA » 10:1708/1708/17/21
BofA analyst Doug Leggate…
BofA analyst Doug Leggate earlier today reinstated coverage of Ovintiv with a Buy rating and $38 price target. The company has a "line of sight" to accelerate debt reduction that is "poised to transfer value" to the equity, Leggate told investors in a research note. The analyst says that with deleveraging ahead of schedule, he sees an improvement in Ovintiv's cost of capital, which he notes is the highest in the peer group.
Ovintiv reinstated with a Buy at BofA » 06:0908/1708/17/21
BofA reinstated coverage…
BofA reinstated coverage of Ovintiv with a Buy rating and $38 price target.
Ovintiv raises dividend 50% to 14c » 17:3607/2707/27/21
Ovintiv's Board declared a dividend of 14c per share of common stock payable on September 30 to common stockholders of record as of September 15, 2021.This represents an increase of approximately 50% from the previous level.
Ovintiv reports Q2 EPS (79c) with items, consensus $1.04 » 17:3507/2707/27/21
Q2 results included the…
Q2 results included the impact of net losses on risk management of $799M, before-tax. Reports Q2 average total production was 555,000 MBOE/d and crude and condensate production averaged 201 Mbbls/d. "Our track record of free cash flow generation continued in the Q2 with another $350M of free cash, bringing us to a total of $890M year-to-date," said Ovintiv CEO, Doug Suttles. "We also expect to reach our original $4.5B net debt target before year-end - one year ahead of our original timeline. This achievement will mark almost $3B of net debt reduction since the Q2 of 2020. Our business continues to perform exceptionally well with operational efficiency gains and supply chain management more than offsetting cost inflation year-to-date. Ovintiv is positioned to thrive on the road ahead."
Fly Intel: Top five analyst initiations » 09:5507/2707/27/21
HEPS, OVV, NYXH, CELC, RMGB
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hepsiburada (HEPS) initiated with a Buy at Goldman Sachs, an Overweight at JPMorgan and an Equal Weight at Morgan Stanley. 2. Ovintiv (OVV) initiated with an Overweight at Wells Fargo. 3. Nyxoah (NYXH) initiated with a Buy at Stifel. 4. Celcuity (CELC) initiated with a Buy at Needham. 5. RMG Acquisition Corporation II (RMGB) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Ovintiv initiated with an Overweight at Wells Fargo » 06:2007/2707/27/21
Wells Fargo analyst Nitin…
Wells Fargo analyst Nitin Kumar initiated coverage of Ovintiv with an Overweight rating and $38 price target. The analyst sees the company's "diversified" asset portfolio as capable of supporting sustained cash return to shareholders. This is driven by Ovintiv's "peer-leading" well costs and diversified hydrocarbon exposure in its U.S. Shale assets, further supported by its Canadian operations, Kumar tells investors in a research note. The analyst says the shares are underappreciated at current levels.
Ovintiv resumed with a Market Perform at Raymond James » 07:5007/2007/20/21
Raymond James analyst…
Raymond James analyst George Huang resumed coverage of Ovintiv with a Market Perform rating and $35 price target. Huang believes Ovintiv, under new management, has done a commendable job rightsizing the balance sheet as well as driving down costs across the entire North American portfolio, the analyst tells investors in a research note.
Ovintiv upgraded to Outperform from Neutral at Credit Suisse » 05:3407/1907/19/21
Credit Suisse analyst…
Credit Suisse analyst William Janela upgraded Ovintiv to Outperform from Neutral with a price target of $38, up from $29. as Execution on asset sales and support from higher commodity prices position Ovintiv to hit its debt reduction targets by Q4, Janela tells investors in a research note. This will clear the way for the company to "meaningfully accelerate" cash returns to shareholders and provide "optionality for growth" into 2022, Janela tells investors in a research note.