Ovintiv Inc. (TSE:OVV) Receives C$75.00 Average Price Target from Analysts

Shares of Ovintiv Inc. (TSE:OVV) have received an average rating of “Strong Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and seven have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$75.00.

OVV has been the topic of a number of recent research reports. Texas Capital upgraded Ovintiv to a “strong-buy” rating in a research report on Thursday, June 25th. Citigroup raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price target for the company in a research report on Wednesday, May 20th. Wells Fargo & Company upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$80.00 price objective for the company in a research note on Monday, June 22nd. Finally, Truist Financial raised shares of Ovintiv to a “strong-buy” rating in a report on Monday, March 23rd.

Ovintiv Stock Performance

Shares of OVV stock opened at C$81.25 on Friday. The business has a fifty day moving average of C$78.51 and a 200 day moving average of C$72.68. Ovintiv has a 1 year low of C$50.13 and a 1 year high of C$86.86. The company has a debt-to-equity ratio of 66.59, a current ratio of 0.56 and a quick ratio of 0.51. The firm has a market capitalization of C$22.83 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 0.05 and a beta of 0.39.

Ovintiv (TSE:OVV) last posted its quarterly earnings results on Monday, May 11th. The company reported C($3.27) earnings per share for the quarter. The firm had revenue of C$3.52 billion for the quarter. Ovintiv had a net margin of 8.59% and a return on equity of 7.13%. As a group, research analysts expect that Ovintiv will post 5.6577693 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Ovintiv’s dividend payout ratio (DPR) is 39.47%.

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.