Ovintiv (TSE:OVV) Coverage Initiated by Analysts at National Bank Financial

National Bank Financial assumed coverage on shares of Ovintiv (TSE:OVV) in a report issued on Wednesday,Zacks reports. The brokerage issued a strong-buy rating on the stock.

Several other analysts have also recently issued reports on the stock. Wells Fargo & Company raised shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, September 2nd. Seaport Research Partners started coverage on shares of Ovintiv in a research note on Wednesday, September 2nd. They set a “hold” rating on the stock. Eight research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Strong Buy” and an average target price of C$75.00.

Ovintiv Price Performance

OVV stock opened at C$100.11 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 1.01 and a debt-to-equity ratio of 43.73. Ovintiv has a 52-week low of C$50.13 and a 52-week high of C$103.31. The stock’s 50 day moving average is C$90.95 and its two-hundred day moving average is C$79.57. The company has a market capitalization of C$27.69 billion, a PE ratio of 27.96, a P/E/G ratio of 0.05 and a beta of 0.53.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Ovintiv’s dividend payout ratio is 33.52%.

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.