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

Ovintiv Inc. (TSE:OVV) has been given a consensus rating of “Strong Buy” by the five analysts that are covering the company, MarketBeat reports. Five analysts have rated the stock with a strong buy recommendation.

Several brokerages recently weighed in on OVV. BMO Capital Markets raised Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 24th. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, The Goldman Sachs Group raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday.

Ovintiv Stock Down 1.5%

Shares of OVV stock opened at C$51.86 on Wednesday. Ovintiv has a 1 year low of C$42.35 and a 1 year high of C$67.71. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.51 and a current ratio of 0.52. The business’s fifty day moving average is C$51.52 and its 200-day moving average is C$55.87. The stock has a market cap of C$9.43 billion, a PE ratio of 4.75, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, June 13th. Ovintiv’s payout ratio is 14.85%.

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.