Ovintiv (TSE:OVV) Raised to “Strong-Buy” at Scotiabank

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

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

Ovintiv Price Performance

Shares of TSE:OVV opened at C$62.56 on Wednesday. The business has a 50 day moving average price of C$56.10 and a 200 day moving average price of C$55.63. Ovintiv has a twelve month low of C$42.35 and a twelve month high of C$65.36. The company has a market cap of C$17.73 billion, a price-to-earnings ratio of 67.27, a PEG ratio of 0.05 and a beta of 1.05. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 63.59.

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