Ovintiv price target lowered to $56 from $60 at Barclays

Barclays analyst Jeanine Wai lowered the firm’s price target on Ovintiv to $56 from $60 and keeps an Overweight rating on the shares. The analyst expects a weaker Q4 for the integrated oil and exploration and production sector relative to Q3, but says the overriding factors for the sector investment thesis are capital discipline and cash returns, which underwrite a positive view.