Ovintiv Inc. (TSE:OVV) Receives Average Recommendation of “Strong Buy” from Analysts

Ovintiv Inc. (TSE:OVV) has been given an average recommendation of “Strong Buy” by the ten ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and seven have given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$75.00.

Several research analysts recently issued reports on the company. Wells Fargo & Company raised Ovintiv to a “strong-buy” rating in a research report on Wednesday, September 2nd. Texas Capital upgraded Ovintiv to a “strong-buy” rating in a research report on Thursday, June 25th. Finally, Seaport Research Partners raised Ovintiv to a “hold” rating in a research note on Wednesday, September 2nd.

Ovintiv Trading Up 1.1%

OVV opened at C$86.93 on Thursday. The company has a debt-to-equity ratio of 43.73, a current ratio of 1.01 and a quick ratio of 0.51. Ovintiv has a fifty-two week low of C$50.13 and a fifty-two week high of C$93.78. The company’s 50 day moving average price is C$87.72 and its two-hundred day moving average price is C$82.30. The firm has a market capitalization of C$24.04 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 0.05 and a beta of 0.37.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 15th. Ovintiv’s payout ratio is currently 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.