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

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

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

Ovintiv Price Performance

Shares of Ovintiv stock opened at C$56.52 on Tuesday. Ovintiv has a 1-year low of C$49.74 and a 1-year high of C$76.63. The firm has a fifty day simple moving average of C$56.47 and a 200-day simple moving average of C$63.53. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 67.70. The stock has a market capitalization of C$14.90 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 0.05 and a beta of 2.63.

Ovintiv (TSE:OVV) last released its earnings results on Tuesday, July 30th. The company reported C$1.69 earnings per share 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 firm had revenue of C$3.13 billion during the quarter, compared to analyst estimates of C$3.46 billion. On average, sell-side analysts expect that Ovintiv will post 5.6577693 earnings per share for the current year.

Ovintiv Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, September 13th. Ovintiv’s dividend payout ratio is currently 16.58%.

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.