JP Morgan upgraded its rating of Ovintiv OVV to Overweight with a price target of $64.00, changing its price target from $56.00 to $64.00.
Shares of Ovintiv are trading up 2.35% over the last 24 hours, at $48.39 per share.
A move to $64.00 would account for a 32.26% increase from the current share price.
Ovintiv is an independent oil and gas producer with key assets in the Permian, Eagle Ford, Montney, and Duvernay areas. At the end of 2019, the company reported net proven reserves of 1,348 million barrels of oil equivalent. Net production averaged 543 thousand barrels of oil equivalent per day in 2020 at a ratio of 53% oil and natural gas liquids and 47% natural gas.
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