Ovintiv (TSE:OVV) Raised to “Strong-Buy” at Evercore ISI

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

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

Ovintiv Trading Up 0.1 %

Shares of Ovintiv stock opened at C$65.74 on Wednesday. The company has a fifty day simple moving average of C$65.98 and a 200-day simple moving average of C$64.85. The company has a current ratio of 0.52, a quick ratio of 0.51 and a debt-to-equity ratio of 69.30. Ovintiv has a 12-month low of C$50.11 and a 12-month high of C$76.63. The stock has a market cap of C$17.55 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 0.05 and a beta of 2.67.

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

Ovintiv Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were given a dividend of $0.413 per share. The ex-dividend date was Friday, June 14th. This represents a $1.65 dividend on an annualized basis and a yield of 2.51%. This is a boost from Ovintiv’s previous quarterly dividend of $0.40. Ovintiv’s payout ratio 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.