Ovintiv Inc. (TSE:OVV) Receives Average Recommendation of “Buy” from Analysts

Ovintiv Inc. (TSE:OVV) has been given a consensus recommendation of “Buy” by the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and five have assigned a strong buy recommendation to the company.

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

Ovintiv Stock Performance

Shares of TSE OVV opened at C$79.10 on Monday. The firm has a market cap of C$22.41 billion, a P/E ratio of 16.55, a PEG ratio of 0.05 and a beta of 0.58. 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 stock has a fifty day moving average price of C$77.34 and a two-hundred day moving average price of C$63.72. Ovintiv has a 1 year low of C$48.41 and a 1 year high of C$86.86.

Ovintiv (TSE:OVV) last released its quarterly earnings data on Monday, February 23rd. The company reported C$5.10 earnings per share 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%. Research analysts forecast that Ovintiv will post 5.6577693 EPS for the current fiscal year.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.30 dividend. The ex-dividend date was Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. Ovintiv’s dividend payout ratio is presently 25.10%.

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.