Ovintiv (TSE:OVV) Upgraded to Strong-Buy at Truist Financial

Key Points

• Truist Financial upgraded Ovintiv to a "strong-buy" rating, joining other recent upgrades from TD Cowen, Scotiabank and William Blair and contributing to a MarketBeat consensus rating of Buy (five Strong Buy, one Buy, three Hold).
• Shares rallied about 3.9% to C$81.18 and are trading near their 52‑week high of C$81.83, above the 50‑day (C$66.10) and 200‑day (C$58.72) moving averages.
• Ovintiv posted quarterly EPS of C$5.10 on C$2.81 billion in revenue; the stock trades at a P/E of 16.98 with a market cap of C$23.0 billion and a debt‑to‑equity ratio of 67.25.

Ovintiv (TSE:OVV - Get Free Report) was upgraded by investment analysts at Truist Financial to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. TD Cowen raised Ovintiv to a "strong-buy" rating in a research report on Monday, February 9th. Stephens raised shares of Ovintiv to a "hold" rating in a research note on Tuesday, February 3rd. Scotiabank upgraded shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 11th. Finally, William Blair raised shares of Ovintiv to a "strong-buy" rating in a research report on Wednesday, November 26th. Five analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Ovintiv Stock Up 3.9%

Shares of TSE OVV opened at C$81.18 on Monday. The company has a debt-to-equity ratio of 67.25, a quick ratio of 0.51 and a current ratio of 0.54. The firm has a market capitalization of C$23.00 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.05 and a beta of 1.06. The stock has a 50 day moving average price of C$66.10 and a 200 day moving average price of C$58.72. Ovintiv has a 52-week low of C$42.35 and a 52-week high of C$81.83.

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

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.

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