TD Cowen Upgrades Ovintiv (TSE:OVV) to "Strong-Buy"

TD Cowen upgraded shares of Ovintiv (TSE:OVV - Free Report) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

OVV has been the subject of several other reports. BMO Capital Markets upgraded shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 24th. The Goldman Sachs Group upgraded shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Scotiabank upgraded shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. Seven equities research analysts have rated the stock with a strong buy rating, According to MarketBeat.com, the stock has an average rating of "Strong Buy".

Ovintiv Stock Performance

Shares of OVV stock traded up C$2.58 during midday trading on Monday, hitting C$56.26. 205,338 shares of the company were exchanged, compared to its average volume of 179,691. The firm has a market capitalization of C$10.23 billion, a P/E ratio of 5.16, 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. The firm's 50 day moving average price is C$52.03 and its two-hundred day moving average price is C$55.84. Ovintiv has a 52 week low of C$42.35 and a 52 week high of C$67.71.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Friday, June 13th. Ovintiv's payout ratio is 14.85%.

About Ovintiv

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.