Ovintiv Inc. (TSE:OVV) Receives C$68.00 Average Price Target from Brokerages

Ovintiv Inc. (TSE:OVV) has received a consensus recommendation of “Strong Buy” from the six analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a buy recommendation and five have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$68.00.

Several research analysts have recently weighed in on the company. Scotiabank raised Ovintiv to a “strong-buy” rating in a research 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.

Ovintiv Stock Up 2.0 %

Ovintiv stock opened at C$62.84 on Wednesday. Ovintiv has a 52-week low of C$49.74 and a 52-week high of C$76.63. The firm has a 50 day moving average price of C$60.94 and a two-hundred day moving average price of C$59.21. 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 company has a debt-to-equity ratio of 63.59, a quick ratio of 0.51 and a current ratio of 0.52.

Ovintiv Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.91%. Ovintiv’s dividend payout ratio (DPR) is currently 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.