Brokerages Set Ovintiv Inc. (TSE:OVV) Target Price at C$68.00

Ovintiv Inc. (TSE:OVV) has been assigned an average recommendation of “Strong Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a buy recommendation and five have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$68.00.

A number of brokerages have recently commented on OVV. Scotiabank upgraded Ovintiv to a “strong-buy” rating in a report on Wednesday, March 19th. BMO Capital Markets raised Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 24th.

Ovintiv Trading Down 2.6 %

Shares of TSE:OVV opened at C$60.45 on Wednesday. The firm has a market cap of C$11.00 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 0.05 and a beta of 2.63. Ovintiv has a 12 month low of C$49.74 and a 12 month high of C$76.63. The company’s fifty day simple moving average is C$61.07 and its 200 day simple moving average is C$59.09. 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio 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.