Ovintiv (TSE:OVV) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Ovintiv (TSE:OVV) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday, Zacks.com reports.

Separately, National Bankshares increased their target price on shares of Ovintiv from C$59.00 to C$68.00 and gave the company an outperform rating in a research report on Friday, April 19th.

Ovintiv Stock Up 0.1 %

OVV stock opened at C$65.74 on Wednesday. The stock has a market cap of C$17.55 billion, a P/E ratio of 6.69, a P/E/G ratio of 0.05 and a beta of 2.67. The company has a current ratio of 0.52, a quick ratio of 0.51 and a debt-to-equity ratio of 69.30. The stock’s fifty day simple moving average is C$65.98 and its two-hundred day simple moving average is C$64.85. Ovintiv has a 1-year low of C$50.11 and a 1-year high of C$76.63.

Ovintiv (TSE:OVV) last issued its quarterly earnings results on Tuesday, May 7th. The company reported C$1.94 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.80 by C$0.14. The company had revenue of C$3.17 billion for the quarter, compared to the consensus estimate of C$3.53 billion. Ovintiv had a net margin of 18.52% and a return on equity of 21.33%. Analysts expect that Ovintiv will post 8.5701299 EPS for the current year.

Ovintiv Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 28th were issued a $0.413 dividend. This is a positive change from Ovintiv’s previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Friday, June 14th. Ovintiv’s dividend payout ratio (DPR) is presently 16.70%.

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.