Ovintiv (TSE:OVV) Upgraded by Seaport Research Partners to “Hold” Rating

Seaport Research Partners upgraded shares of Ovintiv (TSE:OVV) to a hold rating in a research note released on Wednesday morning, Marketbeat.com reports.

Several other equities analysts also recently issued reports on the stock. Texas Capital raised shares of Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Citigroup upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price objective on the stock in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company raised shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and a consensus target price of C$75.00.

Ovintiv Price Performance

Shares of OVV opened at C$90.86 on Wednesday. Ovintiv has a 12 month low of C$50.13 and a 12 month high of C$93.43. The company has a debt-to-equity ratio of 43.73, a current ratio of 1.01 and a quick ratio of 0.51. The stock has a fifty day moving average price of C$84.48 and a 200 day moving average price of C$79.77. The company has a market cap of C$25.13 billion, a P/E ratio of 25.38, a PEG ratio of 0.05 and a beta of 0.36.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.20 annualized dividend and a yield of 1.3%. Ovintiv’s payout ratio is presently 33.52%.

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.