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

Shares of Ovintiv Inc. (TSE:OVV) have been given an average rating of “Strong Buy” by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a buy recommendation and five have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$68.00.

A number of brokerages have recently commented on OVV. BMO Capital Markets upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Monday. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th.

Ovintiv Price Performance

TSE OVV opened at C$62.57 on Wednesday. The stock has a 50-day simple moving average of C$61.32 and a 200 day simple moving average of C$58.96. Ovintiv has a twelve month low of C$49.74 and a twelve month high of C$76.63. The stock has a market capitalization of C$11.38 billion, a PE ratio of 5.74, a P/E/G ratio of 0.05 and a beta of 2.63. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.51 and a current ratio of 0.52.

Ovintiv Cuts Dividend

The firm also recently declared 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 of this dividend is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.92%. Ovintiv’s dividend payout ratio is 14.85%.

About Ovintiv

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.