Ovintiv Inc. (TSE:OVV) Receives Consensus Recommendation of "Strong Buy" from Analysts

Shares of Ovintiv Inc. (TSE:OVV - Get Free Report) have been given an average rating of "Strong Buy" by the six ratings firms that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a strong buy recommendation.

A number of research firms have recently weighed in on OVV. Scotiabank raised Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. BMO Capital Markets raised shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 24th. Finally, The Goldman Sachs Group upgraded shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a report on Tuesday.

Ovintiv Price Performance

OVV stock traded up C$2.59 on Wednesday, reaching C$54.45. The company had a trading volume of 166,122 shares, compared to its average volume of 182,047. The company's fifty day moving average is C$51.52 and its 200 day moving average is C$55.87. The company has a market cap of C$9.91 billion, a P/E ratio of 4.99, a PEG 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 has a 1 year low of C$42.35 and a 1 year high of C$67.71.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 2.20%. Ovintiv's dividend payout ratio (DPR) is presently 14.85%.

Ovintiv Company Profile

Ovintiv Inc is a leading North American exploration and production (E&P) company focused on developing its high-quality, multi-basin portfolio. Ovintiv works to safely produce crude oil and natural gas-products that make modern life possible for all. The Company is focused on creating long-term shareholder value while contributing to the strength and sustainability of the communities where it operates.