Ovintiv Inc. (TSE:OVV) Receives Average Rating of “Buy” from Brokerages

Ovintiv Inc. (TSE:OVV) has been given a consensus rating of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and five have issued a strong buy recommendation on the company.

A number of equities analysts have issued reports on OVV shares. TD Cowen raised Ovintiv to a “strong-buy” rating in a report on Monday, February 9th. Scotiabank upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Stephens raised shares of Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. Finally, William Blair upgraded Ovintiv to a “strong-buy” rating in a report on Wednesday, November 26th.

Ovintiv Price Performance

OVV stock opened at C$62.81 on Wednesday. The company has a 50 day simple moving average of C$56.43 and a 200 day simple moving average of C$55.73. The stock has a market cap of C$17.80 billion, a price-to-earnings ratio of 67.54, a P/E/G ratio of 0.05 and a beta of 1.05. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.52 and a quick ratio of 0.51. Ovintiv has a 1 year low of C$42.35 and a 1 year high of C$65.36.

Ovintiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, December 15th. Ovintiv’s payout ratio is 129.03%.

About Ovintiv

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.