Ovintiv Inc. (TSE:OVV) Receives Average Recommendation of “Buy” from Analysts

Ovintiv Inc. (TSE:OVV) has been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, one has issued a buy rating and five have given a strong buy rating to the company.

OVV has been the subject of a number of analyst reports. Stephens upgraded shares of Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a report on Monday, February 9th. Citigroup cut shares of Ovintiv from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Truist Financial upgraded shares of Ovintiv to a “strong-buy” rating in a report on Monday, March 23rd.

Ovintiv Stock Up 0.1%

Shares of TSE:OVV opened at C$77.62 on Thursday. Ovintiv has a one year low of C$42.83 and a one year high of C$86.86. The company has a 50 day moving average of C$72.70 and a 200-day moving average of C$60.93. The company has a debt-to-equity ratio of 67.25, a current ratio of 0.54 and a quick ratio of 0.51. The stock has a market cap of C$21.99 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 0.05 and a beta of 0.42.

Ovintiv (TSE:OVV) last issued its quarterly earnings results on Monday, February 23rd. The company reported C$5.10 EPS for the quarter. Ovintiv had a net margin of 14.13% and a return on equity of 11.86%. The company had revenue of C$2.81 billion during the quarter. On average, sell-side analysts forecast that Ovintiv will post 5.6577693 earnings per share for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. Ovintiv’s payout ratio is currently 25.10%.

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.