Ovintiv Inc. (TSE:OVV) Stock Rated “Strong Buy” by Sell-Side Brokerages

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

Several analysts have commented on the stock. Wells Fargo & Company raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, September 2nd. Seaport Research Partners upgraded shares of Ovintiv to a “hold” rating in a research note on Wednesday, September 2nd. Finally, Texas Capital raised shares of Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th.

Ovintiv Price Performance

Shares of TSE:OVV opened at C$87.63 on Thursday. The company’s 50-day moving average is C$87.82 and its 200 day moving average is C$82.44. The company has a debt-to-equity ratio of 43.73, a quick ratio of 0.51 and a current ratio of 1.01. The company has a market capitalization of C$24.24 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 0.05 and a beta of 0.53. Ovintiv has a fifty-two week low of C$50.13 and a fifty-two week high of C$93.78.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 15th. Ovintiv’s dividend payout ratio (DPR) is currently 33.52%.

About Ovintiv

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.