Barclays analyst Betty Jiang maintains $Ovintiv (OVV.US)$ with a buy rating, and adjusts the target price from $60 to $53.
According to TipRanks data, the analyst has a success rate of 43.2% and a total average return of -1.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ovintiv (OVV.US)$'s main analysts recently are as follows:
Estimates for the integrated oil and exploration and production group have been adjusted to reflect decreased oil price forecasts of $10 per barrel in 2025 and $5 in 2026. Despite the recent sector pullback, the potential for positive outcomes for stocks is leaning upwards, as company fundamentals and operational momentum are holding strong.
The firm adjusted its exploration and production group estimates to align with the updated commodity price forecasts and investment perspective. Their long-term expectations for Brent and Henry Hub prices are set to remain at a steady level. Should operational efficiency improvements continue and service costs decrease further, the exploration and production sector could maintain heightened capital efficiency into 2025. This efficiency uptick has the potential to counterbalance the effects of resource maturity.
Amid a period of global monetary easing, energy commodities, and related equities could potentially remain stagnant due to challenging fundamentals and anticipated imbalances by 2025. Nevertheless, there's a belief that there may be more upside risks in the crude oil market. As the quarter comes to a close, expectations are set for updates that could reveal lower projections 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.