Ovintiv (TSE:OVV) Downgraded by Citigroup to “Hold”

Ovintiv (TSE:OVV) was downgraded by research analysts at Citigroup from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Sunday,Zacks.com reports.

A number of other brokerages have also weighed in on OVV. Truist Financial upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, March 23rd. Stephens raised shares of Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, TD Cowen raised shares of Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Five equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Ovintiv has a consensus rating of “Buy”.

Ovintiv Price Performance

Shares of TSE:OVV opened at C$84.47 on Friday. Ovintiv has a 1-year low of C$42.35 and a 1-year high of C$86.86. The firm has a market capitalization of C$23.93 billion, a PE ratio of 17.67, a PEG ratio of 0.05 and a beta of 1.06. The business’s 50 day moving average is C$68.43 and its 200-day moving average is C$59.47. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 67.25.

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

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.