Ovintiv Inc. (TSE:OVV) Given Average Recommendation of “Buy” by Brokerages

Ovintiv Inc. (TSE:OVV) has earned an average rating of “Buy” from the ten research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, one has given a buy rating and six have issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$70.00.

A number of research firms have recently weighed in on OVV. Citigroup upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 target price on the stock in a report on Wednesday, May 20th. Truist Financial upgraded shares of Ovintiv to a “strong-buy” rating in a report on Monday, March 23rd. TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a report on Monday, February 9th. Finally, Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th.

Ovintiv Stock Performance

Ovintiv stock opened at C$82.34 on Friday. The company’s 50-day moving average price is C$79.98 and its 200-day moving average price is C$67.60. Ovintiv has a twelve month low of C$50.13 and a twelve month high of C$86.86. The company has a quick ratio of 0.51, a current ratio of 0.56 and a debt-to-equity ratio of 66.59. The company has a market cap of C$23.14 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 0.05 and a beta of 0.58.

Ovintiv (TSE:OVV) last posted its earnings results on Monday, May 11th. The company reported C($3.27) earnings per share for the quarter. Ovintiv had a return on equity of 7.13% and a net margin of 8.59%.The business had revenue of C$3.52 billion during the quarter. On average, equities research analysts forecast that Ovintiv will post 5.6577693 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be issued a $0.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. Ovintiv’s payout ratio is 39.47%.

Ovintiv Company Profile

Ovintiv Inc is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the province of Alberta. Ovintiv’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Pipestone and Wapiti areas of the Alberta Deep Basin.