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

Ovintiv Inc. (TSE:OVV – Get Free Report) has been assigned an average rating of “Strong Buy” from the ten analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, one has given a buy recommendation and seven have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$75.00.

A number of analysts have recently issued reports on OVV shares. Texas Capital raised Ovintiv to a “strong-buy” rating in a research note on Thursday, June 25th. Citigroup upgraded Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price target for the company in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company raised Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$80.00 price objective for the company in a research note on Monday, June 22nd.

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Ovintiv Trading Down 0.2%

OVV stock opened at C$88.34 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.51 and a debt-to-equity ratio of 43.73. Ovintiv has a 12-month low of C$50.13 and a 12-month high of C$90.93. The stock has a market cap of C$24.43 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 0.05 and a beta of 0.36. The business’s 50-day moving average is C$80.31 and its 200 day moving average is C$76.21.

Ovintiv (TSE:OVV – Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported C($3.27) EPS for the quarter. Ovintiv had a return on equity of 8.29% and a net margin of 9.51%.The firm had revenue of C$3.52 billion for the quarter. On average, sell-side analysts anticipate that Ovintiv will post 5.6577693 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. Ovintiv’s dividend payout ratio is presently 33.52%.

Ovintiv Company Profile

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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.

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