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

Shares of Ovintiv Inc. (TSE:OVV) have received an average recommendation of “Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and six have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$70.00.

A number of equities analysts have recently commented on OVV shares. Citigroup upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price objective for the company in a research report on Wednesday, May 20th. Truist Financial upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Monday, March 23rd.

Ovintiv Price Performance

Shares of TSE OVV opened at C$77.15 on Tuesday. The stock has a market cap of C$21.68 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 0.05 and a beta of 0.44. Ovintiv has a fifty-two week low of C$50.13 and a fifty-two week high of C$86.86. The company has a debt-to-equity ratio of 66.59, a quick ratio of 0.51 and a current ratio of 0.56. The stock has a fifty day moving average of C$78.82 and a 200-day moving average of C$69.44.

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

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, June 15th. Ovintiv’s dividend payout ratio (DPR) is 39.47%.

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.