Ovintiv (TSE:OVV) Upgraded at Scotiabank

Scotiabank upgraded shares of Ovintiv (TSE:OVV) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other brokerages have also recently weighed in on OVV. William Blair upgraded Ovintiv to a “strong-buy” rating in a research report on Wednesday, November 26th. Royal Bank Of Canada raised shares of Ovintiv from a “hold” rating to a “moderate buy” rating in a report on Wednesday, October 15th. Wells Fargo & Company upgraded shares of Ovintiv to a “hold” rating in a research note on Friday, October 17th. TD Cowen raised shares of Ovintiv to a “strong-buy” rating in a report on Monday, February 9th. Finally, Stephens raised shares of Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Five analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Ovintiv Stock Performance

Shares of OVV stock opened at C$63.88 on Wednesday. The stock has a market capitalization of C$18.10 billion, a P/E ratio of 68.69, a PEG ratio of 0.05 and a beta of 1.05. 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 firm’s 50 day moving average is C$56.21 and its 200 day moving average is C$55.67. Ovintiv has a 12 month low of C$42.35 and a 12 month high of C$65.36.

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

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid 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 1.9%. Ovintiv’s dividend payout ratio (DPR) is 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.