Ovintiv Inc. (TSE:OVV) Given Consensus Rating of “Buy” by Brokerages

Ovintiv Inc. (TSE:OVV) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and five have assigned a strong buy rating to the company.

Several equities analysts have commented on the company. William Blair upgraded Ovintiv to a “strong-buy” rating in a report on Wednesday, November 26th. Stephens upgraded shares of Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. TD Cowen raised shares of Ovintiv to a “strong-buy” rating in a report on Monday, February 9th. Finally, Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th.

Ovintiv Stock Performance

Shares of TSE OVV opened at C$78.23 on Friday. The business’s 50-day simple moving average is C$64.60 and its 200-day simple moving average is C$58.27. The company has a debt-to-equity ratio of 67.25, a quick ratio of 0.51 and a current ratio of 0.54. Ovintiv has a 52 week low of C$42.35 and a 52 week high of C$79.12. The firm has a market cap of C$22.17 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.05 and a beta of 1.06.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, March 13th. Ovintiv’s payout ratio is currently 25.10%.

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.