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Truist Financial Maintains Ovintiv(OVV.US) With Buy Rating

Futu News ·  Sep 30 19:31  · Ratings

Truist Financial analyst Neal Dingmann maintains $Ovintiv (OVV.US)$ with a buy rating.

According to TipRanks data, the analyst has a success rate of 51.5% and a total average return of 5.1% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Ovintiv (OVV.US)$'s main analysts recently are as follows:

  • Estimates for the exploration and production sector have been adjusted to align with the updated commodity price forecasts and investment perspective. Long-term expectations for oil and gas prices continue to be anticipated at $80 for Brent and $3.50 for Henry Hub. Should operational efficiency improvements continue and service costs decrease further, exploration and production companies might maintain enhanced capital efficiency into 2025. This efficiency could help counterbalance the effects of resource maturity.

  • Amid a globally coordinated easing cycle, energy commodities and the equities might not participate due to challenging fundamentals and a potential imbalance projected for 2025. However, it is suggested not to counteract the central bank or political actions, as the risks in the crude oil market are viewed as more likely to increase. As the quarter concludes, updates are anticipated that could reveal declines for near-term estimates.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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