Ovintiv (TSE:OVV) Reaches New 1-Year High – Here’s What Happened

Ovintiv Inc. (TSE:OVV) reached a new 52-week high on Monday . The stock traded as high as C$71.38 and last traded at C$70.62, with a volume of 195766 shares trading hands. The stock had previously closed at C$68.84.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OVV. Scotiabank raised Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Stephens raised shares of Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. William Blair upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, November 26th. Finally, TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Five investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ovintiv has a consensus rating of “Buy”.

Ovintiv Trading Up 3.5%

The company has a debt-to-equity ratio of 63.59, a current ratio of 0.52 and a quick ratio of 0.51. The company has a market capitalization of C$20.20 billion, a price-to-earnings ratio of 76.65, a price-to-earnings-growth ratio of 0.05 and a beta of 1.05. The business has a fifty day moving average price of C$58.78 and a 200 day moving average price of C$56.53.

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 given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, December 15th. Ovintiv’s dividend payout ratio (DPR) is currently 129.03%.

Ovintiv Company Profile

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.