Ovintiv (TSE:OVV) Upgraded to "Strong-Buy" by Siebert Williams Shank

Siebert Williams Shank upgraded shares of Ovintiv (TSE:OVV - Free Report) to a strong-buy rating in a report published on Tuesday, Zacks.com reports.

Several other research firms have also recently weighed in on OVV. Wolfe Research raised shares of Ovintiv to a "strong-buy" rating in a research note on Thursday, July 18th. Evercore ISI raised Ovintiv from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ovintiv currently has a consensus rating of "Buy" and a consensus price target of C$58.50.

Ovintiv Price Performance

Shares of TSE OVV traded up C$0.47 during mid-day trading on Tuesday, reaching C$56.99. The company's stock had a trading volume of 94,216 shares, compared to its average volume of 120,916. The company has a debt-to-equity ratio of 67.70, a current ratio of 0.44 and a quick ratio of 0.51. Ovintiv has a 52 week low of C$49.74 and a 52 week high of C$76.63. The stock has a fifty day moving average of C$56.48 and a two-hundred day moving average of C$63.44. The firm has a market capitalization of C$15.02 billion, a PE ratio of 5.83, a P/E/G ratio of 0.05 and a beta of 2.63.

Ovintiv (TSE:OVV - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$1.69 earnings per share for the quarter, topping the consensus estimate of C$1.67 by C$0.02. The business had revenue of C$3.13 billion during the quarter, compared to the consensus estimate of C$3.46 billion. Ovintiv had a return on equity of 19.75% and a net margin of 18.84%. As a group, sell-side analysts anticipate that Ovintiv will post 5.6577693 EPS for the current fiscal year.

Ovintiv Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.41 per share. The ex-dividend date was Friday, September 13th. This represents a $1.64 annualized dividend and a yield of 2.88%. Ovintiv's dividend payout ratio (DPR) is currently 16.58%.

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.