Seaport Research Partners Upgrades Ovintiv (TSE:OVV) to Hold

Ovintiv (TSE:OVV) was upgraded by equities researchers at Seaport Research Partners to a “hold” rating in a report released on Wednesday, Zacks reports.

Several other equities research analysts also recently issued reports on the company. Texas Capital upgraded Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Wells Fargo & Company raised Ovintiv to a “strong-buy” rating in a research report on Wednesday. Finally, Citigroup upgraded Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price objective on the stock in a research note on Wednesday, May 20th. Seven analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ovintiv presently has an average rating of “Strong Buy” and a consensus price target of C$75.00.

Ovintiv Stock Performance

Shares of OVV opened at C$90.86 on Wednesday. The company has a debt-to-equity ratio of 43.73, a quick ratio of 0.51 and a current ratio of 1.01. The stock has a 50 day moving average price of C$84.48 and a two-hundred day moving average price of C$79.77. The firm has a market capitalization of C$25.13 billion, a P/E ratio of 25.38, a P/E/G ratio of 0.05 and a beta of 0.36. Ovintiv has a 52 week low of C$50.13 and a 52 week high of C$93.43.

About Ovintiv

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.