Ovintiv (TSE:OVV) Upgraded to Strong-Buy at William Blair

William Blair upgraded shares of Ovintiv (TSE:OVV) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

OVV has been the topic of several other reports. Royal Bank Of Canada raised shares of Ovintiv from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, October 15th. Roth Capital upgraded shares of Ovintiv to a “hold” rating in a research note on Monday, October 13th. Finally, Wells Fargo & Company upgraded shares of Ovintiv to a “hold” rating in a report on Friday, October 17th. Five analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Ovintiv Price Performance

OVV stock opened at C$56.80 on Wednesday. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.51 and a current ratio of 0.52. The firm has a 50 day moving average price of C$54.31 and a 200-day moving average price of C$54.56. Ovintiv has a 52-week low of C$42.35 and a 52-week high of C$66.67. The firm has a market capitalization of C$14.39 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 0.05 and a beta of 0.88.

Ovintiv (TSE:OVV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported C$0.57 earnings per share for the quarter. Ovintiv had a return on equity of 19.62% and a net margin of 20.34%.The company had revenue of C$2.88 billion during the quarter. Equities research analysts forecast that Ovintiv will post 5.6577693 EPS for the current fiscal year.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were paid a $0.30 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. Ovintiv’s payout ratio is currently 129.03%.

About Ovintiv

Ovintiv Inc is a leading North American exploration and production (E&P) company focused on developing its high-quality, multi-basin portfolio. Ovintiv works to safely produce crude oil and natural gas-products that make modern life possible for all. The Company is focused on creating long-term shareholder value while contributing to the strength and sustainability of the communities where it operates.