Ovintiv (TSE:OVV) Upgraded by Citigroup to “Strong-Buy” Rating

Ovintiv (TSE:OVV) was upgraded by equities research analysts at Citigroup from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Scotiabank upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. TD Cowen upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Stephens upgraded Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Truist Financial upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, March 23rd. Six research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Ovintiv Stock Down 2.1%

Shares of TSE:OVV opened at C$81.97 on Wednesday. The stock has a fifty day simple moving average of C$79.28 and a two-hundred day simple moving average of C$65.59. The stock has a market capitalization of C$23.04 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 0.05 and a beta of 0.58. Ovintiv has a 12-month low of C$48.41 and a 12-month high of C$86.86. The company has a current ratio of 0.56, a quick ratio of 0.51 and a debt-to-equity ratio of 66.59.

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

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.