Ovintiv Inc. (TSE:OVV) Given Average Rating of “Buy” by Analysts

Ovintiv Inc. (TSE:OVV) has received an average recommendation of “Buy” from the nine research firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and five have assigned a strong buy recommendation to the company.

A number of analysts have weighed in on the stock. TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Scotiabank raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. William Blair upgraded shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, November 26th. Finally, Stephens upgraded Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd.

Ovintiv Stock Down 0.4%

Shares of TSE:OVV opened at C$69.16 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.51 and a debt-to-equity ratio of 63.59. The stock has a fifty day simple moving average of C$57.17 and a two-hundred day simple moving average of C$56.01. Ovintiv has a 12-month low of C$42.35 and a 12-month high of C$70.12. The stock has a market capitalization of C$19.60 billion, a price-to-earnings ratio of 74.37, a PEG ratio of 0.05 and a beta of 1.05.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Ovintiv’s dividend payout ratio (DPR) is 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.