Ovintiv Inc. (TSE:OVV) Given Consensus Rating of “Buy” by Analysts

Ovintiv Inc. (TSE:OVV) has been assigned a consensus rating of “Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and five have issued a strong buy rating on the company.

OVV has been the topic of a number of research reports. Stephens raised shares of Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. Truist Financial raised shares of Ovintiv to a “strong-buy” rating in a research note on Monday, March 23rd. TD Cowen raised Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Citigroup lowered Ovintiv from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Scotiabank raised Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at C$79.10 on Monday. The stock’s fifty day simple moving average is C$77.34 and its 200 day simple moving average is C$63.72. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 67.25. The company has a market capitalization of C$22.41 billion, a PE ratio of 16.55, a PEG ratio of 0.05 and a beta of 0.58. Ovintiv has a 12 month low of C$48.41 and a 12 month high of C$86.86.

Ovintiv (TSE:OVV) last announced its quarterly earnings results on Monday, February 23rd. The company reported C$5.10 earnings per share (EPS) for the quarter. Ovintiv had a return on equity of 11.86% and a net margin of 14.13%.The company had revenue of C$2.81 billion during the quarter. On average, research analysts predict that Ovintiv will post 5.6577693 EPS for the current year.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. Ovintiv’s dividend payout ratio is 25.10%.

Ovintiv Company Profile

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.