National Bank Financial Initiates Coverage on Ovintiv (TSE:OVV)

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

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

Ovintiv Price Performance

TSE OVV opened at C$100.11 on Wednesday. Ovintiv has a twelve month low of C$50.13 and a twelve month 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 stock 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. The stock has a 50-day simple moving average of C$90.95 and a 200 day simple moving average of C$79.57.

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.