Ovintiv Inc. (TSE:OVV) Given Average Recommendation of "Buy" by Analysts

Key Points

• Consensus "Buy": Ten analysts cover Ovintiv and give a consensus Buy rating (5 strong-buy, 1 buy, 4 hold).
• Solid recent results and valuation: OVV opened at C$82.67 (1‑yr range C$45.96–C$86.86) with a market cap of C$23.42B; last quarter EPS was C$5.10 on C$2.81B revenue and the stock trades at a P/E of 17.29, with analysts forecasting ~C$5.66 EPS for the year.
• Dividend: Ovintiv pays a quarterly dividend of C$0.30 (paid Mar 31), equal to C$1.20 annualized for a ~1.5% yield and a 25.1% payout ratio.

Ovintiv Inc. (TSE:OVV - Get Free Report) has been assigned a consensus rating of "Buy" from the ten ratings firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and five have assigned a strong buy rating to the company.

A number of equities analysts have weighed in on OVV shares. Truist Financial raised shares of Ovintiv to a "strong-buy" rating in a research note on Monday, March 23rd. TD Cowen raised shares of Ovintiv to a "strong-buy" rating in a research note on Monday, February 9th. Stephens upgraded shares of Ovintiv to a "hold" rating in a report on Tuesday, February 3rd. Citigroup cut shares of Ovintiv from a "strong-buy" rating to a "hold" rating in a report on Sunday, March 29th. Finally, Scotiabank upgraded shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 11th.

Ovintiv Price Performance

OVV stock opened at C$82.67 on Monday. Ovintiv has a 1 year low of C$45.96 and a 1 year high of C$86.86. The company has a market cap of C$23.42 billion, a P/E ratio of 17.29, a PEG ratio of 0.05 and a beta of 0.42. The firm has a 50-day moving average of C$76.55 and a 200 day moving average of C$63.07. The company has a debt-to-equity ratio of 67.25, a current ratio of 0.54 and a quick ratio of 0.51.

Ovintiv (TSE:OVV - Get Free Report) last announced its earnings results on Monday, February 23rd. The company reported C$5.10 earnings per share for the quarter. Ovintiv had a net margin of 14.13% and a return on equity of 11.86%. The business had revenue of C$2.81 billion during the quarter. On average, sell-side analysts forecast that Ovintiv will post 5.6577693 EPS for the current year.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.30 per share. 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%.

Ovintiv Company Profile

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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