Ovintiv (TSE:OVV) Rating Increased to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Ovintiv (TSE:OVV) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Several other research firms have also recently commented on OVV. William Blair upgraded Ovintiv to a “strong-buy” rating in a report on Wednesday, November 26th. Scotiabank upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Stephens upgraded Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. Finally, TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Five equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Ovintiv Price Performance

OVV stock opened at C$81.18 on Monday. The stock has a market capitalization of C$23.00 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 0.05 and a beta of 1.06. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 67.25. Ovintiv has a 52-week low of C$42.35 and a 52-week high of C$81.83. The stock’s fifty day simple moving average is C$66.10 and its 200-day simple moving average is C$58.72.

Ovintiv (TSE:OVV) last released its earnings results on Monday, February 23rd. The company reported C$5.10 EPS for the quarter. Ovintiv had a return on equity of 11.86% and a net margin of 14.13%.The firm had revenue of C$2.81 billion during the quarter. Equities research analysts expect that Ovintiv will post 5.6577693 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, March 13th. This represents a $1.20 annualized dividend and a yield of 1.5%. Ovintiv’s dividend payout ratio is presently 25.10%.

About Ovintiv

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.