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

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

Several research firms have recently weighed in on OVV. Citigroup raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 target price for the company in a report on Wednesday, May 20th. Texas Capital raised shares of Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Wells Fargo & Company upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday. Finally, Seaport Research Partners raised shares of Ovintiv to a “hold” rating in a report on Wednesday.

Ovintiv Trading Down 1.4%

Shares of TSE:OVV opened at C$89.57 on Friday. Ovintiv has a 12-month low of C$50.13 and a 12-month high of C$93.43. The company has a market capitalization of C$24.78 billion, a PE ratio of 25.02, a PEG ratio of 0.05 and a beta of 0.37. The business has a 50 day moving average of C$84.77 and a two-hundred day moving average of C$79.84. The company has a current ratio of 1.01, a quick ratio of 0.51 and a debt-to-equity ratio of 43.73.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.3%. Ovintiv’s dividend payout ratio (DPR) is 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.