Ovintiv (TSE:OVV) Hits New 12-Month High – Should You Buy?

Ovintiv Inc. (TSE:OVV)’s stock price hit a new 52-week high on Wednesday . The company traded as high as C$67.00 and last traded at C$66.80, with a volume of 378551 shares. The stock had previously closed at C$62.81.

Wall Street Analyst Weigh In

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

Ovintiv Trading Up 7.0%

The company’s 50 day moving average is C$56.43 and its 200 day moving average is C$55.73. The stock has a market capitalization of C$19.04 billion, a price-to-earnings ratio of 72.25, a PEG ratio of 0.05 and a beta of 1.05. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.51 and a current ratio of 0.52.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, December 15th. Ovintiv’s dividend payout ratio is presently 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.