Ovintiv (TSE:OVV) Rating Increased to Strong-Buy at Texas Capital

Ovintiv (TSE:OVV) was upgraded by equities research analysts at Texas Capital to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

OVV has been the subject of a number of other research reports. Citigroup upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 target price for the company in a research note on Wednesday, May 20th. Truist Financial upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Monday, March 23rd. Finally, Wells Fargo & Company raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$80.00 price target on the stock in a report on Monday, June 22nd. Eight investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average target price of C$75.00.

Ovintiv Stock Down 0.8%

OVV opened at C$75.34 on Thursday. The stock’s fifty day simple moving average is C$78.78 and its 200 day simple moving average is C$69.85. Ovintiv has a 1-year low of C$50.13 and a 1-year high of C$86.86. The stock has a market cap of C$21.17 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 0.05 and a beta of 0.44. The company has a current ratio of 0.56, a quick ratio of 0.51 and a debt-to-equity ratio of 66.59.

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

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.