Ovintiv Inc. (TSE:OVV) Receives Average Recommendation of “Buy” from Brokerages

Shares of Ovintiv Inc. (TSE:OVV) have received an average rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, one has given a buy recommendation and five have assigned a strong buy recommendation to the company.

Several analysts have issued reports on OVV shares. William Blair raised Ovintiv to a “strong-buy” rating in a report on Wednesday, November 26th. Wells Fargo & Company raised Ovintiv to a “hold” rating in a research report on Friday, October 17th. Royal Bank Of Canada upgraded Ovintiv from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Roth Capital raised shares of Ovintiv to a “hold” rating in a report on Monday, October 13th.

Ovintiv Trading Down 0.1%

Shares of TSE:OVV opened at C$59.01 on Friday. The stock’s 50-day simple moving average is C$54.28 and its two-hundred day simple moving average is C$54.73. The stock has a market capitalization of C$14.94 billion, a price-to-earnings ratio of 63.45, a PEG ratio of 0.05 and a beta of 0.88. Ovintiv has a 52-week low of C$42.35 and a 52-week high of C$66.67. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.51 and a current ratio of 0.52.

Ovintiv (TSE:OVV) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C$0.57 earnings per share for the quarter. Ovintiv had a net margin of 20.34% and a return on equity of 19.62%. The firm had revenue of C$2.88 billion for the quarter. Analysts expect that Ovintiv will post 5.6577693 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, December 15th. Ovintiv’s dividend payout ratio (DPR) is presently 129.03%.

About Ovintiv

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.