Ovintiv Inc. (TSE:OVV) Receives C$75.00 Average PT from Analysts

Ovintiv Inc. (TSE:OVV) has earned a consensus rating of “Strong Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and seven have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$75.00.

OVV has been the subject of several research analyst reports. Wells Fargo & Company upgraded Ovintiv to a “strong-buy” rating in a research report on Wednesday, September 2nd. Citigroup raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price target on the stock in a research note on Wednesday, May 20th. Texas Capital upgraded shares of Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Seaport Research Partners raised shares of Ovintiv to a “hold” rating in a research report on Wednesday, September 2nd.

Ovintiv Stock Performance

Ovintiv stock opened at C$88.62 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.51 and a debt-to-equity ratio of 43.73. Ovintiv has a 1 year low of C$50.13 and a 1 year high of C$93.43. The company has a market cap of C$24.51 billion, a PE ratio of 24.75, a PEG ratio of 0.05 and a beta of 0.37. The company’s 50-day moving average is C$85.88 and its two-hundred day moving average is C$80.56.

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 15th. Ovintiv’s dividend payout ratio 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.