Ovintiv Inc. (TSE:OVV) Given Consensus Recommendation of "Strong Buy" by Analysts

Ovintiv Inc. (TSE:OVV - Get Free Report) has received a consensus recommendation of "Strong Buy" from the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a buy rating and five have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$68.00.

Several research firms have recently weighed in on OVV. BMO Capital Markets raised shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 24th. Scotiabank raised Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th.

Ovintiv Stock Down 2.6 %

TSE OVV traded down C$1.59 during mid-day trading on Wednesday, reaching C$60.45. 112,865 shares of the company's stock traded hands, compared to its average volume of 159,983. The company has a fifty day simple moving average of C$61.07 and a 200-day simple moving average of C$59.09. Ovintiv has a 1-year low of C$49.74 and a 1-year high of C$76.63. The company has a market cap of C$11.00 billion, a price-to-earnings ratio of 5.54, a P/E/G ratio of 0.05 and a beta of 2.63. The company has a current ratio of 0.52, a quick ratio of 0.51 and a debt-to-equity ratio of 63.59.

Ovintiv Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, March 14th. Ovintiv's dividend payout ratio (DPR) is presently 14.85%.

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About Ovintiv

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.