National Bankshares Boosts Ovintiv (TSE:OVV) Price Target to C$68.00

Ovintiv (TSE:OVV) had its target price raised by National Bankshares from C$59.00 to C$68.00 in a research report sent to investors on Friday morning, MarketBeat reports. National Bankshares currently has an outperform rating on the stock.

Separately, Royal Bank of Canada lifted their price objective on Ovintiv from C$48.00 to C$49.00 and gave the stock a sector perform rating in a research report on Thursday, February 29th.

Ovintiv Stock Performance

OVV opened at C$71.48 on Friday. The stock has a market cap of C$19.22 billion, a PE ratio of 6.66, a P/E/G ratio of 0.05 and a beta of 2.67. Ovintiv has a 1 year low of C$43.23 and a 1 year high of C$76.63. The stock’s 50 day simple moving average is C$68.17 and its 200-day simple moving average is C$63.00. The company has a current ratio of 0.60, a quick ratio of 0.51 and a debt-to-equity ratio of 64.45.

Ovintiv (TSE:OVV) last posted its earnings results on Tuesday, February 27th. The company reported C$3.20 earnings per share for the quarter, topping the consensus estimate of C$2.61 by C$0.59. The business had revenue of C$4.31 billion for the quarter, compared to analyst estimates of C$3.69 billion. Ovintiv had a net margin of 19.56% and a return on equity of 23.09%. Sell-side analysts forecast that Ovintiv will post 8.5061453 EPS for the current year.

Ovintiv Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a $0.403 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.26%. Ovintiv’s dividend payout ratio is 15.08%.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.