Ovintiv (TSE:OVV) Raised to "Strong-Buy" at Scotiabank

Scotiabank upgraded shares of Ovintiv (TSE:OVV - Free Report) to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

Ovintiv Trading Up 1.0 %

TSE:OVV traded up C$0.64 during trading hours on Wednesday, reaching C$62.23. 62,050 shares of the stock were exchanged, compared to its average volume of 160,929. Ovintiv has a twelve month low of C$49.74 and a twelve month high of C$76.63. The business has a 50-day moving average of C$61.36 and a two-hundred day moving average of C$58.92. The company has a market capitalization of C$11.32 billion, a price-to-earnings ratio of 5.70, a PEG ratio of 0.05 and a beta of 2.63. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, March 14th. 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.