Ovintiv (TSE:OVV) Raised to “Strong-Buy” at BMO Capital Markets

BMO Capital Markets upgraded shares of Ovintiv (TSE:OVV) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Separately, Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, Ovintiv presently has a consensus rating of “Strong Buy” and an average target price of C$68.00.

Ovintiv Trading Up 0.4 %

TSE OVV opened at C$62.83 on Monday. 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 has a market cap of C$11.43 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 0.05 and a beta of 2.63. The firm has a 50 day simple moving average of C$61.27 and a 200-day simple moving average of C$59.00. Ovintiv has a one year low of C$49.74 and a one year high of C$76.63.

Ovintiv Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, March 14th. Ovintiv’s payout ratio is presently 14.85%.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.