Ovintiv (TSE:OVV) Stock Rated “Strong-Buy” in New Coverage at National Bank Financial

Stock analysts at National Bank Financial started coverage on shares of Ovintiv (TSE:OVV) in a report issued on Wednesday, Zacks reports. The firm set a “strong-buy” rating on the stock.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company raised Ovintiv to a “strong-buy” rating in a research note on Wednesday, September 2nd. Seaport Research Partners initiated coverage on Ovintiv in a report on Wednesday, September 2nd. They set a “hold” rating on the stock. Eight investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and an average target price of C$75.00.

Ovintiv Trading Up 0.3%

Shares of TSE OVV opened at C$100.11 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 1.01 and a debt-to-equity ratio of 43.73. Ovintiv has a twelve month low of C$50.13 and a twelve month high of C$103.31. The company’s fifty day moving average is C$90.95 and its 200-day moving average is C$79.57. The stock has a market cap of C$27.69 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 0.05 and a beta of 0.53.

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.