Ovintiv (TSE:OVV) Cut to “Hold” at Scotiabank

Scotiabank cut shares of Ovintiv (TSE:OVV) from a strong-buy rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on OVV. Royal Bank Of Canada upgraded shares of Ovintiv from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, October 15th. William Blair upgraded Ovintiv to a “strong-buy” rating in a research report on Wednesday, November 26th. Wells Fargo & Company upgraded Ovintiv to a “hold” rating in a report on Friday, October 17th. Finally, Roth Mkm upgraded Ovintiv to a “hold” rating in a research report on Monday, October 13th. Four investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy”.

Ovintiv Price Performance

Shares of TSE OVV opened at C$56.15 on Tuesday. The stock’s 50-day simple moving average is C$54.80 and its two-hundred day simple moving average is C$55.07. Ovintiv has a twelve month low of C$42.35 and a twelve month high of C$66.67. The firm has a market capitalization of C$14.22 billion, a P/E ratio of 60.38, a P/E/G ratio of 0.05 and a beta of 0.82. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 63.59.

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

Ovintiv Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a $0.30 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. Ovintiv’s payout ratio is currently 129.03%.

Ovintiv Company Profile

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.