Ovintiv Inc. (TSE:OVV) Given Average Recommendation of “Buy” by Analysts

Shares of Ovintiv Inc. (TSE:OVV) have received a consensus recommendation of “Buy” from the nine analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and five have given a strong buy recommendation to the company.

Several equities analysts recently issued reports on the company. William Blair upgraded Ovintiv to a “strong-buy” rating in a research note on Wednesday, November 26th. Stephens upgraded Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. TD Cowen upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th.

Ovintiv Stock Performance

TSE:OVV opened at C$69.16 on Wednesday. The firm’s 50-day moving average is C$57.17 and its 200-day moving average is C$56.03. Ovintiv has a 52-week low of C$42.35 and a 52-week high of C$70.12. 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 company has a market cap of C$19.60 billion, a price-to-earnings ratio of 74.37, a PEG ratio of 0.05 and a beta of 1.05.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. Ovintiv’s payout ratio is presently 129.03%.

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.