Ovintiv (TSE:OVV) Cut to “Hold” at Citigroup

Citigroup cut shares of Ovintiv (TSE:OVV) from a strong-buy rating to a hold rating in a report published on Sunday morning,Zacks.com reports.

Several other analysts have also recently weighed in on OVV. TD Cowen raised Ovintiv to a “strong-buy” rating in a report on Monday, February 9th. Truist Financial raised Ovintiv to a “strong-buy” rating in a report on Monday, March 23rd. Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Stephens raised shares of Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. Five analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Ovintiv Trading Down 2.2%

Ovintiv stock opened at C$82.59 on Friday. The company has a debt-to-equity ratio of 67.25, a quick ratio of 0.51 and a current ratio of 0.54. Ovintiv has a fifty-two week low of C$42.35 and a fifty-two week high of C$86.86. The stock has a market cap of C$23.40 billion, a P/E ratio of 17.28, a PEG ratio of 0.05 and a beta of 1.06. The firm’s fifty day moving average price is C$68.99 and its 200-day moving average price is C$59.64.

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

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given 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 dividend payout ratio (DPR) is presently 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.