Ovintiv Inc. (TSE:OVV) Receives C$75.00 Average PT from Brokerages

Ovintiv Inc. (TSE:OVV) has been given an average recommendation of “Strong Buy” by the ten ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and seven have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$75.00.

A number of brokerages have commented on OVV. Wells Fargo & Company upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$80.00 price objective for the company in a research report on Monday, June 22nd. Texas Capital raised shares of Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Citigroup upgraded shares of 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 Trading Up 2.0%

Shares of OVV stock opened at C$90.41 on Wednesday. The business’s 50 day moving average is C$81.07 and its two-hundred day moving average is C$77.31. Ovintiv has a twelve month low of C$50.13 and a twelve month high of C$90.93. The company has a market capitalization of C$25.01 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 0.05 and a beta of 0.36. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 15th. Ovintiv’s payout ratio is currently 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.