BMO Capital Markets upgraded shares of Ovintiv (TSE:OVV - Free Report) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.
Separately, Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Strong Buy" and a consensus price target of C$68.00.
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Ovintiv Stock Performance
Shares of TSE OVV traded down C$1.59 during trading on Monday, reaching C$60.45. 112,865 shares of the company traded hands, compared to its average volume of 159,983. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 63.59. Ovintiv has a 52-week low of C$49.74 and a 52-week high of C$76.63. The stock has a market capitalization of C$11.00 billion, a PE ratio of 5.54, a P/E/G ratio of 0.05 and a beta of 2.63. The firm has a 50 day simple moving average of C$61.07 and a 200-day simple moving average of C$59.09.
Ovintiv Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.99%. Ovintiv's dividend payout ratio (DPR) is presently 14.85%.
Ovintiv Company Profile
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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.
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