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

Texas Capital upgraded shares of Ovintiv (TSE:OVV) to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

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

Ovintiv Price Performance

OVV stock opened at C$75.34 on Thursday. The company has a debt-to-equity ratio of 66.59, a current ratio of 0.56 and a quick ratio of 0.51. The business has a 50 day simple moving average of C$78.78 and a 200-day simple moving average of C$69.85. The firm has a market capitalization of C$21.17 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 0.05 and a beta of 0.44. Ovintiv has a 1 year low of C$50.13 and a 1 year high of C$86.86.

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

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be issued a $0.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. Ovintiv’s dividend payout ratio is currently 39.47%.

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.