Ovintiv Inc. (TSE:OVV) Given Consensus Recommendation of “Strong Buy” by Analysts

Ovintiv Inc. (TSE:OVV) has been assigned a consensus recommendation of “Strong Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a buy recommendation and five have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$68.00.

A number of equities analysts have recently weighed in on the stock. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets raised Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Monday.

Ovintiv Stock Performance

Shares of OVV opened at C$62.57 on Wednesday. Ovintiv has a 52 week low of C$49.74 and a 52 week high of C$76.63. 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 company has a market capitalization of C$11.38 billion, a PE ratio of 5.74, a PEG ratio of 0.05 and a beta of 2.63. The company’s 50 day moving average price is C$61.32 and its 200 day moving average price is C$58.96.

Ovintiv Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.30 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 1.92%. Ovintiv’s dividend payout ratio (DPR) is currently 14.85%.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.