Ovintiv (TSE:OVV) Upgraded at Truist Financial

Truist Financial upgraded shares of Ovintiv (TSE:OVV) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on the company. TD Cowen raised Ovintiv to a “strong-buy” rating in a research report on Monday, February 9th. Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Stephens upgraded shares of Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Finally, William Blair raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, November 26th. Five research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Ovintiv Stock Performance

Shares of OVV opened at C$83.08 on Monday. The company has a debt-to-equity ratio of 67.25, a quick ratio of 0.51 and a current ratio of 0.54. The stock has a 50 day moving average price of C$66.64 and a two-hundred day moving average price of C$58.89. The firm has a market capitalization of C$23.54 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.05 and a beta of 1.06. Ovintiv has a 52 week low of C$42.35 and a 52 week high of C$83.09.

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

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, March 13th. This represents a $1.20 annualized dividend and a yield of 1.4%. Ovintiv’s dividend payout ratio is presently 25.10%.

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.