Ovintiv Inc. (TSE:OVV) Stock Has Average Price Target of C$75.00

Ovintiv Inc. (TSE:OVV) has been assigned a consensus rating of “Strong Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$75.00.

OVV has been the topic of a number of research analyst reports. National Bank Financial began coverage on Ovintiv in a report on Wednesday, October 28th. They set a “strong-buy” rating on the stock. Wells Fargo & Company raised shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, September 2nd. Finally, Seaport Research Partners initiated coverage on shares of Ovintiv in a research report on Wednesday, September 2nd. They set a “hold” rating for the company.

Ovintiv Price Performance

Shares of OVV stock opened at C$101.46 on Monday. Ovintiv has a 1 year low of C$50.13 and a 1 year high of C$103.31. The company has a debt-to-equity ratio of 43.73, a quick ratio of 0.51 and a current ratio of 1.01. The business’s fifty day moving average is C$91.14 and its 200-day moving average is C$79.80. The stock has a market cap of C$28.06 billion, a PE ratio of 28.34, a price-to-earnings-growth 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. Investors of record on Tuesday, September 29th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 15th. Ovintiv’s payout ratio is presently 33.52%.

Ovintiv Company Profile

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.