Ovintiv (TSE:OVV) Downgraded by Scotiabank to Hold

Ovintiv (TSE:OVV) was downgraded by equities research analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

OVV has been the subject of a number of other reports. Roth Capital raised shares of Ovintiv to a “hold” rating in a research note on Monday, October 13th. William Blair upgraded shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, November 26th. Wells Fargo & Company raised shares of Ovintiv to a “hold” rating in a research report on Friday, October 17th. Finally, Royal Bank Of Canada upgraded shares of Ovintiv from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Ovintiv presently has a consensus rating of “Buy”.

Ovintiv Price Performance

Shares of OVV stock opened at C$54.69 on Tuesday. Ovintiv has a 52-week low of C$42.35 and a 52-week high of C$66.67. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.51 and a current ratio of 0.52. The firm has a market capitalization of C$13.85 billion, a P/E ratio of 58.81, a P/E/G ratio of 0.05 and a beta of 0.82. The stock has a 50 day moving average price of C$54.71 and a 200 day moving average price of C$55.06.

Ovintiv (TSE:OVV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.57 EPS for the quarter. Ovintiv had a return on equity of 19.62% and a net margin of 20.34%.The company had revenue of C$2.88 billion for the quarter. As a group, sell-side analysts predict that Ovintiv will post 5.6577693 earnings per share for the current year.

About Ovintiv

Ovintiv Inc is a leading North American exploration and production (E&P) company focused on developing its high-quality, multi-basin portfolio. Ovintiv works to safely produce crude oil and natural gas-products that make modern life possible for all. The Company is focused on creating long-term shareholder value while contributing to the strength and sustainability of the communities where it operates.