Ovintiv Inc. (TSE:OVV) Receives Average Rating of “Buy” from Brokerages

Shares of Ovintiv Inc. (TSE:OVV) have received an average recommendation of “Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and five have issued a strong buy rating on the company.

A number of equities research analysts have recently issued reports on OVV shares. 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. Wells Fargo & Company upgraded Ovintiv to a “hold” rating in a research report on Friday, October 17th. Roth Capital raised Ovintiv to a “hold” rating in a report on Monday, October 13th. Finally, William Blair upgraded Ovintiv to a “strong-buy” rating in a research report on Wednesday, November 26th.

Ovintiv Price Performance

TSE OVV opened at C$53.15 on Tuesday. The company has a 50-day moving average price of C$54.18 and a 200-day moving average price of C$55.08. Ovintiv has a 52 week low of C$42.35 and a 52 week high of C$66.67. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 63.59. The firm has a market capitalization of C$13.46 billion, a P/E ratio of 57.15, a PEG ratio of 0.05 and a beta of 0.85.

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

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, December 15th. Ovintiv’s dividend payout ratio is currently 129.03%.

Ovintiv Company Profile

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.