Siebert Williams Shank Upgrades Ovintiv (TSE:OVV) to “Strong-Buy”

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

A number of other brokerages have also weighed in on OVV. Evercore ISI raised Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Wolfe Research upgraded Ovintiv to a “strong-buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$58.50.

Ovintiv Trading Down 1.2 %

OVV stock opened at C$56.33 on Tuesday. Ovintiv has a 12 month low of C$49.74 and a 12 month high of C$76.63. The firm’s 50-day moving average is C$56.48 and its 200 day moving average is C$63.39. The company has a market capitalization of C$14.85 billion, a PE ratio of 5.77, a P/E/G ratio of 0.05 and a beta of 2.63. 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 (TSE:OVV) last issued its earnings results on Tuesday, July 30th. The company reported C$1.69 EPS for the quarter, topping analysts’ consensus estimates of C$1.67 by C$0.02. Ovintiv had a net margin of 18.84% and a return on equity of 19.75%. The business had revenue of C$3.13 billion for the quarter, compared to analyst estimates of C$3.46 billion. On average, research analysts anticipate that Ovintiv will post 5.6577693 EPS for the current year.

Ovintiv Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, September 13th. Ovintiv’s payout ratio is 16.58%.

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.