Ovintiv Inc (NYSE:OVV) on Monday posted upbeat first-quarter earnings.

Ovintiv reported quarterly earnings of $2.00 per share which beat the analyst consensus estimate of $1.83 per share. The company reported quarterly sales of $2.532 billion which beat the analyst consensus estimate of $2.430 billion.

“We’ve built a track record of leading execution efficiency and disciplined capital allocation and now we’ve combined those strengths with best-in-class inventory depth in the two best E&P assets, and a clean balance sheet,” said Ovintiv President and CEO, Brendan McCracken. “With the enhanced stability of our business today, we are intensely focused on efficient execution and profitability. Our strong first quarter continues to demonstrate differentiated results that reflect the moat we have created through disciplined portfolio management and stacked innovation.”

Ovintiv shares fell 0.9% to trade at $58.59 on Tuesday.

These analysts made changes to their price targets on Ovintiv following earnings announcement.

  • Barclays analyst Betty Jiang maintained Ovintiv with an Overweight rating and raised the price target from $62 to $68.
  • Scotiabank analyst Kevin Fisk maintained the stock with a Sector Outperform and raised the price target from $65 to $67.

Considering buying OVV stock? Here’s what analysts think: