Wells Fargo Upgrades Ovintiv Inc. to 'Buy', Sets $80 Price Target
Wells Fargo sees potential in Ovintiv Inc., upgrading it to 'buy' with a new $80 price target, a 51.63% upside from the current price.
Key Points
- Wells Fargo upgraded Ovintiv Inc. to a 'buy' rating on June 22, 2026, with a new price target of $80.
- Wells Fargo's $80 price target implies 51.63% upside from Ovintiv Inc.'s ($OVV) current $52.76 share price.
- Shares of NYSE:OVV traded near $52.41 on Monday, with a market cap of $14.7 billion and a P/E ratio of 17.24.
- Insiders recently traded shares, and major funds like BlackRock and FMR LLC adjusted their positions in Ovintiv.
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On June 22, 2026, Wells Fargo analyst Hanwen Chang upgraded Ovintiv Inc. (NYSE:OVV) to a 'buy' rating and set a new price target of $80. This move comes as the firm sees increased potential in the energy company, which specializes in oil and gas exploration and production.
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Ovintiv Inc. Stock Down 18.3%
Shares of NYSE:OVV traded near $52.41 on Monday. Ovintiv Inc. has a market cap of approximately $14.7 billion. The company has a P/E ratio of 17.24 and a forward P/E of 6.64, indicating expectations for future earnings growth. The stock's 52-week range is between $35.47 and $63.46, with a 50-day moving average of $57.44 and a 200-day moving average of $47.13. The company's current ratio is 0.57, and its debt-to-equity ratio stands at 67.57.
$OVV price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Ovintiv reported revenue of about $8.87 billion with a growth rate of 8.5%. The company's net margin is approximately 8.7%, and it has a return on equity of 7.13%. The next earnings report is expected on July 23, 2026.
Dividend
The company offers an annual dividend rate of $1.20, yielding 2.29% with a payout ratio of 39.47%.
Insider Buying and Selling at Ovintiv Inc.
Recently, several insiders were involved in trading Ovintiv shares. On May 21, 2026, Meg Gentle and Terri Gay King each bought 3,510 shares, while Howard John Mayson and Ralph Izzo sold the same amount. Sippy Chhina and Gregory Hill also purchased 3,505 and 3,218 shares, respectively, on the same date.
Analysts Set New Price Targets
Alongside Wells Fargo's upgrade, several other firms have maintained or set new targets for Ovintiv. Mizuho and Barclays both maintained 'buy' ratings with $75 targets in late May, while Citigroup upgraded its rating to 'buy' with a $70 target on May 20, 2026. The consensus among 22 analysts is a 'buy' recommendation, with a mean price target of $70.68.
About Ovintiv Inc.
Ovintiv Inc., based in Denver, Colorado, explores and produces oil and natural gas in North America. With operations in the Permian and Anadarko basins in the U.S. and areas in Alberta and British Columbia, Canada, Ovintiv is a key player in the energy sector. The company is led by CEO Brendan Michael McCracken and employs approximately 1,465 people.
Bottom Line
Wells Fargo's recent upgrade to a 'buy' rating for Ovintiv Inc. highlights the firm's confidence in the company's future prospects. Investors often track such analyst actions for insights into a company's potential. However, it's important to remember that these ratings are based on past data and projections, which may not reflect future performance.
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