Ovintiv Inc. (TSE:OVV) Given Consensus Recommendation of “Strong Buy” by Brokerages

Shares of Ovintiv Inc. (TSE:OVV) have been assigned an average recommendation of “Strong Buy” from the eleven analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, one has issued a buy rating and eight have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$75.00.

OVV has been the subject of several research analyst reports. Texas Capital raised Ovintiv to a “strong-buy” rating in a research report on Thursday. Truist Financial upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, March 23rd. Wells Fargo & Company upgraded Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$80.00 price target on the stock in a research note on Monday, June 22nd. Finally, Citigroup upgraded Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price target on the stock in a research note on Wednesday, May 20th.

Ovintiv Price Performance

OVV opened at C$75.34 on Tuesday. The stock has a market cap of C$21.17 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 0.05 and a beta of 0.44. Ovintiv has a 1 year low of C$50.13 and a 1 year high of C$86.86. The company has a current ratio of 0.56, a quick ratio of 0.51 and a debt-to-equity ratio of 66.59. The stock has a fifty day moving average price of C$78.78 and a 200 day moving average price of C$69.85.

Ovintiv (TSE:OVV) last announced its quarterly earnings results on Monday, May 11th. The company reported C($3.27) earnings per share for the quarter. Ovintiv had a return on equity of 7.13% and a net margin of 8.59%.The company had revenue of C$3.52 billion during the quarter. Analysts forecast that Ovintiv will post 5.6577693 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, June 15th. Ovintiv’s dividend payout ratio is currently 39.47%.

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.