Ovintiv Inc. (TSE:OVV) Receives Consensus Rating of “Buy” from Analysts

Shares of Ovintiv Inc. (TSE:OVV) have earned a consensus recommendation of “Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and six have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$70.00.

A number of brokerages recently issued reports on OVV. Scotiabank raised Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Truist Financial raised Ovintiv to a “strong-buy” rating in a research report on Monday, March 23rd. TD Cowen raised Ovintiv to a “strong-buy” rating in a research report on Monday, February 9th. Citigroup raised Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 target price on the stock in a research report on Wednesday, May 20th. Finally, Stephens raised Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd.

Ovintiv Trading Down 0.1%

TSE OVV opened at C$76.96 on Friday. The firm has a market cap of C$21.63 billion, a P/E ratio of 25.32, a P/E/G ratio of 0.05 and a beta of 0.58. 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 stock’s 50-day moving average is C$79.76 and its 200-day moving average is C$66.68. Ovintiv has a one year low of C$48.94 and a one year high of C$86.86.

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

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, March 13th. Ovintiv’s dividend payout ratio (DPR) 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.