Ovintiv (TSE:OVV) Stock Rating Upgraded by Scotiabank

Ovintiv (TSE:OVV) was upgraded by equities researchers at Scotiabank from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Stephens upgraded Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada raised Ovintiv from a “hold” rating to a “moderate buy” rating in a report on Wednesday, October 15th. Wells Fargo & Company upgraded Ovintiv to a “hold” rating in a research report on Friday, October 17th. William Blair raised Ovintiv to a “strong-buy” rating in a research note on Wednesday, November 26th. Finally, TD Cowen upgraded Ovintiv to a “strong-buy” rating in a report on Monday. Five analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ovintiv currently has an average rating of “Buy”.

Ovintiv Stock Down 3.5%

TSE OVV opened at C$62.56 on Wednesday. Ovintiv has a 12 month low of C$42.35 and a 12 month high of C$65.36. The company has a market capitalization of C$17.73 billion, a P/E ratio of 67.27, a PEG ratio of 0.05 and a beta of 1.05. The company’s 50 day simple moving average is C$56.10 and its 200 day simple moving average is C$55.63. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.52 and a quick ratio of 0.51.

Ovintiv (TSE:OVV) last issued its earnings results on Tuesday, November 4th. The company reported C$0.57 earnings per share for the quarter. The firm had revenue of C$2.88 billion during the quarter. Ovintiv had a net margin of 20.34% and a return on equity of 19.62%. Equities research analysts expect that Ovintiv will post 5.6577693 earnings per share for the current fiscal year.

Ovintiv Company Profile

Ovintiv Inc is a leading North American exploration and production (E&P) company focused on developing its high-quality, multi-basin portfolio. Ovintiv works to safely produce crude oil and natural gas-products that make modern life possible for all. The Company is focused on creating long-term shareholder value while contributing to the strength and sustainability of the communities where it operates.