Ovintiv (TSE:OVV) Raised to Strong-Buy at Texas Capital

Ovintiv (TSE:OVV) was upgraded by Texas Capital to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on OVV. Citigroup raised Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 target price for the company in a report on Wednesday, May 20th. Truist Financial raised shares of Ovintiv to a “strong-buy” rating in a research report on Monday, March 23rd. Finally, Wells Fargo & Company upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$80.00 price target for the company in a report on Monday, June 22nd. Eight equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus price target of C$75.00.

Ovintiv Trading Down 0.8%

Shares of TSE:OVV opened at C$75.34 on Thursday. Ovintiv has a 12-month low of C$50.13 and a 12-month high of C$86.86. The business has a 50 day moving average of C$78.78 and a 200-day moving average of C$69.85. The company has a quick ratio of 0.51, a current ratio of 0.56 and a debt-to-equity ratio of 66.59. The stock has a market cap of C$21.17 billion, a PE ratio of 24.78, a P/E/G ratio of 0.05 and a beta of 0.44.

Ovintiv (TSE:OVV) last released its quarterly earnings results on Monday, May 11th. The company reported C($3.27) earnings per share for the quarter. The firm had revenue of C$3.52 billion for the quarter. Ovintiv had a return on equity of 7.13% and a net margin of 8.59%. As a group, equities research analysts forecast that Ovintiv will post 5.6577693 earnings per share for the current year.

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.