Ovintiv (TSE:OVV) Upgraded to “Strong-Buy” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Ovintiv (TSE:OVV – Free Report) to a strong-buy rating in a report issued on Wednesday,Zacks reports.

A number of other research firms have also recently issued reports on OVV. Citigroup upgraded Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 target price for the company in a report on Wednesday, May 20th. Texas Capital upgraded Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Seven research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Ovintiv presently has an average rating of “Strong Buy” and a consensus target price of C$75.00.

Get Ovintiv alerts:

Check Out Our Latest Research Report on OVV

Ovintiv Stock Performance

Shares of OVV opened at C$92.58 on Wednesday. The company has a debt-to-equity ratio of 43.73, a quick ratio of 0.51 and a current ratio of 1.01. Ovintiv has a twelve month low of C$50.13 and a twelve month high of C$93.43. The firm’s 50 day moving average price is C$84.18 and its two-hundred day moving average price is C$79.58. The firm has a market cap of C$25.61 billion, a P/E ratio of 25.86, a PEG ratio of 0.05 and a beta of 0.36.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 15th. Ovintiv’s dividend payout ratio is 33.52%.

About Ovintiv

(Get Free Report)

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.

Read More

• Five stocks we like better than Ovintiv
• Striking Oil: How the U.S. Play for Venezuela Fuels Supermajors
• J.M. Smucker Stock’s Rally Has More Than Tariffs Behind It
• Wendy’s Rally Fades After Trian Steps Back: Was It Ever Real?
• GitLab’s Earnings Beat Just Gave Software Bulls a New SaaSpocalypse Test

Receive News & Ratings for Ovintiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ovintiv and related companies with MarketBeat.com's FREE daily email newsletter.