Ovintiv Inc. (TSE:OVV) Stock Has Average Target Price of C$75.00

Key Points

• Analyst sentiment is strongly positive: Seven of eight brokerages rate Ovintiv a “strong buy,” while one recommends holding the stock. The average 12-month price target is C$75.00.
• Ovintiv shares opened at C$101.28, near their 52-week high of C$102.18, with a market capitalization of approximately C$28.01 billion.
• The company recently paid a quarterly dividend of $0.30 per share, equivalent to $1.20 annually and a 1.2% yield, with a payout ratio of 33.52%.

Shares of Ovintiv Inc. (TSE:OVV - Get Free Report) have earned an average recommendation of "Strong Buy" from the eight brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$75.00.

A number of analysts have recently commented on the company. Seaport Research Partners raised Ovintiv to a "hold" rating in a research note on Wednesday, September 2nd. Wells Fargo & Company upgraded shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, September 2nd.

Ovintiv Price Performance

Shares of OVV opened at C$101.28 on Monday. The stock has a market capitalization of C$28.01 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 0.05 and a beta of 0.53. Ovintiv has a 52 week low of C$50.13 and a 52 week high of C$102.18. The company has a debt-to-equity ratio of 43.73, a quick ratio of 0.51 and a current ratio of 1.01. The stock has a fifty day moving average of C$90.10 and a 200-day moving average of C$83.58.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Ovintiv's payout ratio is presently 33.52%.

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.

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