Shares of Ovintiv Inc. (TSE:OVV – Get Rating) have earned an average rating of “Buy” from the thirteen research firms that currently cover the company, MarketBeat.com reports. Five research analysts rated the stock with a hold recommendation and eight gave the company a buy recommendation. The 12-month average target price among brokers who have reported on the stock in the past year is C$45.55.
A number of research analysts have published reports on OVV shares. Raymond James set a price target of CA$52.00 on Ovintiv and gave the company a “market performance” rating in a Friday, February 25 report. Tudor Pickering & Holt raised its price target on Ovintiv from C$51.00 to C$54.00 and gave the stock a “buy” rating in a Friday, January 21 research note. Tudor Pickering raised its price target on Ovintiv to C$54.00 and gave the stock a “buy” rating in a Friday, Jan. 21 research note. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a target price of C$47.00 on Ovintiv shares in a Tuesday, January 4, research note.
TSE:OVV traded at CA$3.02 during Friday trading hours, hitting CA$61.90. The company had a trading volume of 491,331 shares, compared to an average volume of 446,086. Ovintiv has a 1-year low of C$26.61 and a 1-year high of C$62.32. The company has a market capitalization of C$15.89 billion and a PE ratio of 9.14. The company’s 50-day moving average price is C$50.17 and its 200-day moving average price is C$43.92. The company has a debt ratio of 113.84, a current ratio of 0.58 and a quick ratio of 0.57.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 31. Shareholders of record on Tuesday, March 15 will receive a dividend of $0.254. This is a boost from Ovintiv’s previous quarterly dividend of $0.17. This represents an annualized dividend of $1.02 and a yield of 1.64%. The ex-dividend date is Monday, March 14. Ovintiv’s dividend payout ratio is currently 15.07%.
About Ovintiv (Get a rating)
Ovintiv Inc, together with its subsidiaries, is engaged in the exploration, development, production and marketing of natural gas, petroleum and natural gas liquids. It operates through USA Operations, Canadian Operations and Market Optimization segments. The Company’s principal assets include Permian in West Texas and Anadarko in West Central Oklahoma; and Montney in northeastern British Columbia and northwestern Alberta.
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