Ovintiv Inc. (TSE:OVV) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Ovintiv Inc. (TSE:OVV) have received an average recommendation of “Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, one has issued a buy rating and five have assigned a strong buy rating to the company.

A number of analysts have recently weighed in on OVV shares. TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a report on Monday, February 9th. Truist Financial upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Monday, March 23rd. Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Citigroup cut shares of Ovintiv from a “strong-buy” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Stephens upgraded shares of Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd.

Ovintiv Stock Up 0.2%

TSE:OVV opened at C$75.64 on Thursday. Ovintiv has a fifty-two week low of C$44.52 and a fifty-two week high of C$86.86. The stock has a market capitalization of C$21.43 billion, a P/E ratio of 15.82, a P/E/G ratio of 0.05 and a beta of 0.42. The company has a debt-to-equity ratio of 67.25, a quick ratio of 0.51 and a current ratio of 0.54. The company’s 50-day simple moving average is C$73.65 and its 200-day simple moving average is C$61.27.

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

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.30 dividend. The ex-dividend date was Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. Ovintiv’s dividend payout ratio (DPR) 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.