Ovintiv Inc. (OVV.TO) – What Are Investment Firms Thinking About This Stock?

Shares of Ovintiv Inc. (TSE:OVV) have earned an average rating of “Strong Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and eight have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$75.00.

A number of brokerages have issued reports on OVV. National Bank Financial began coverage on shares of Ovintiv in a research report on Wednesday. They set a “strong-buy” rating on the stock. Wells Fargo & Company upgraded shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, September 2nd. Finally, Seaport Research Partners initiated coverage on Ovintiv in a research report on Wednesday, September 2nd. They issued a “hold” rating for the company.

Ovintiv Price Performance

Shares of TSE OVV opened at C$101.46 on Monday. The stock has a market cap of C$28.06 billion, a PE ratio of 28.34, 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$103.31. 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 stock has a fifty day moving average of C$91.14 and a 200-day moving average of C$79.80.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.2%. Ovintiv’s dividend payout ratio is presently 33.52%.

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.