Ovintiv (TSE:OVV) Upgraded at Texas Capital

Ovintiv (TSE:OVV) was upgraded by Texas Capital to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts also recently weighed in on OVV. Truist Financial upgraded Ovintiv to a “strong-buy” rating in a research report 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 report on Monday, June 22nd. Finally, Citigroup raised Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price target for the company in a research note on Wednesday, May 20th. Eight research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus target price of C$75.00.

Ovintiv Trading Down 0.8%

Shares of OVV stock opened at C$75.34 on Thursday. 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 market cap of C$21.17 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 0.05 and a beta of 0.44. The stock has a 50 day simple moving average of C$78.78 and a 200 day simple moving average of C$69.85. Ovintiv has a 1 year low of C$50.13 and a 1 year high of C$86.86.

Ovintiv (TSE:OVV) last issued its quarterly earnings results on Monday, May 11th. The company reported C($3.27) earnings per share (EPS) 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 for the quarter. On average, research analysts predict that Ovintiv will post 5.6577693 earnings per share for the current fiscal year.

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.