Ovintiv (TSE:OVV) Upgraded at Scotiabank

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

Ovintiv Stock Performance

TSE:OVV opened at C$59.60 on Wednesday. Ovintiv has a 12-month low of C$49.74 and a 12-month high of C$76.63. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 63.59. The firm has a market capitalization of C$10.84 billion, a PE ratio of 5.46, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63. The firm has a 50-day moving average price of C$61.41 and a 200 day moving average price of C$58.90.

Ovintiv Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, March 14th. Ovintiv’s payout ratio is 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.