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

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

Several other analysts also recently issued reports on OVV. Truist Financial upgraded Ovintiv to a “strong-buy” rating in a report on Monday, March 23rd. Citigroup upgraded Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price objective on the stock in a research note on Wednesday, May 20th. Seven research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus price target of C$70.00.

Ovintiv Price Performance

OVV opened at C$77.15 on Monday. Ovintiv has a 52-week low of C$50.13 and a 52-week high of C$86.86. The company has a 50 day moving average of C$78.82 and a two-hundred day moving average of C$69.44. The company has a market cap of C$21.68 billion, a P/E ratio of 25.38, a P/E/G ratio of 0.05 and a beta of 0.44. The company has a quick ratio of 0.51, a current ratio of 0.56 and a debt-to-equity ratio of 66.59.

Ovintiv (TSE:OVV) last issued its earnings results on Monday, May 11th. The company reported C($3.27) EPS for the quarter. The business had revenue of C$3.52 billion during the quarter. Ovintiv had a net margin of 8.59% and a return on equity of 7.13%. On average, analysts expect 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.