Bank of America Securities analyst Kalei Akamine maintained a Buy rating on Ovintiv (OVV – Research Report) yesterday and set a price target of $54.00.
Kalei Akamine has given his Buy rating due to a combination of factors that highlight Ovintiv’s strong financial and operational performance. The company’s 2025 guidance remains stable, even after the sale of Uinta and the acquisition of Paramount, indicating a robust operational strategy. Despite some timing impacts expected in the first quarter of 2025, Ovintiv’s production and capital expenditure targets are largely unchanged, showcasing resilience and effective management.
Additionally, Ovintiv’s focus on efficiency in the Permian and Montney regions is evident, with reduced well costs and improved cycle times, which contribute to a more favorable financial outlook. The company’s fourth-quarter results were mostly in line with expectations, with notable performance in oil production and cash flow. Furthermore, the planned resumption of share buybacks in the second quarter, coupled with a strategic approach to debt management, enhances shareholder value and supports the Buy rating.
According to TipRanks, Akamine is a 3-star analyst with an average return of 2.0% and a 45.83% success rate. Akamine covers the Energy sector, focusing on stocks such as APA, Comstock Resources, and Conocophillips.
In another report released today, Siebert Williams Shank & Co also maintained a Buy rating on the stock with a $68.00 price target.