Ovintiv Inc. (TSE:OVV) Receives C$68.00 Consensus Price Target from Analysts

Shares of Ovintiv Inc. (TSE:OVV) have been given a consensus rating of “Strong Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a buy rating and five have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$68.00.

OVV has been the topic of a number of recent analyst reports. BMO Capital Markets upgraded 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 opened at C$60.45 on Wednesday. Ovintiv has a 1-year low of C$49.74 and a 1-year high of C$76.63. The company has a market capitalization 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. The stock’s 50 day moving average is C$61.07 and its two-hundred day moving average is C$59.09. 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 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. This represents a $1.20 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, March 14th. Ovintiv’s payout ratio is presently 14.85%.

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.