Ovintiv (TSE:OVV) Rating Increased to Strong-Buy at BMO Capital Markets

BMO Capital Markets upgraded shares of Ovintiv (TSE:OVV) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Separately, Scotiabank upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ovintiv has a consensus rating of “Strong Buy” and a consensus target price of C$68.00.

Ovintiv Stock Up 1.6 %

OVV stock opened at C$62.57 on Monday. Ovintiv has a fifty-two week low of C$49.74 and a fifty-two week high of C$76.63. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.52 and a quick ratio of 0.51. The stock has a market capitalization of C$11.38 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 0.05 and a beta of 2.63. The business’s fifty day moving average price is C$61.32 and its two-hundred day moving average price is C$58.96.

Ovintiv Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 1.92%. Ovintiv’s dividend payout ratio is 14.85%.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.