Ovintiv (TSE:OVV) Stock Rating Upgraded by Wells Fargo & Company

Ovintiv (TSE:OVV) was upgraded by equities researchers at Wells Fargo & Company to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other research firms have also weighed in on OVV. Citigroup raised Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price target on the stock in a research report on Wednesday, May 20th. Texas Capital raised Ovintiv to a “strong-buy” rating in a report on Thursday, June 25th. Seven equities 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and a consensus price target of C$75.00.

Ovintiv Stock Performance

OVV opened at C$92.58 on Wednesday. Ovintiv has a 52-week low of C$50.13 and a 52-week high of C$93.43. The firm has a market capitalization of C$25.61 billion, a PE ratio of 25.86, a PEG ratio of 0.05 and a beta of 0.36. The company has a debt-to-equity ratio of 43.73, a quick ratio of 0.51 and a current ratio of 1.01. The business’s 50-day simple moving average is C$84.18 and its 200 day simple moving average is C$79.58.

About Ovintiv

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.