Ovintiv (TSE:OVV) Raised to “Moderate Buy” at Royal Bank Of Canada

Ovintiv (TSE:OVV) was upgraded by stock analysts at Royal Bank Of Canada from a “hold” rating to a “moderate buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on OVV. Roth Capital upgraded Ovintiv to a “hold” rating in a report on Monday. The Goldman Sachs Group upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Finally, TD Cowen raised Ovintiv to a “strong-buy” rating in a research note on Monday, July 7th. Four equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy”.

Ovintiv Stock Up 1.2%

Shares of TSE OVV opened at C$52.34 on Wednesday. Ovintiv has a 1 year low of C$42.35 and a 1 year high of C$66.67. The firm’s 50 day moving average price is C$56.21 and its 200 day moving average price is C$53.56. The firm has a market cap of C$13.45 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 0.05 and a beta of 0.91. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.51 and a current ratio of 0.52.

About Ovintiv

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.