Ovintiv (TSE:OVV) Raised to “Strong-Buy” at Wells Fargo & Company

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

OVV has been the subject of a number of other research reports. Citigroup upgraded Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 target price for the company in a report on Wednesday, May 20th. Texas Capital raised Ovintiv to a “strong-buy” rating in a research report on Thursday, June 25th. Seven investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ovintiv currently has a consensus rating of “Strong Buy” and a consensus target price of C$75.00.

Ovintiv Stock Performance

Shares of OVV stock opened at C$92.58 on Wednesday. The company has a debt-to-equity ratio of 43.73, a current ratio of 1.01 and a quick ratio of 0.51. The stock has a market cap of C$25.61 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 0.05 and a beta of 0.36. The stock has a 50-day moving average of C$84.18 and a 200-day moving average of C$79.58. Ovintiv has a one year low of C$50.13 and a one year high of C$93.43.

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.