Analysts Set Ovintiv Inc. (TSE:OVV) Target Price at C$68.00

Shares of Ovintiv Inc. (TSE:OVV) have been assigned a consensus recommendation of “Strong Buy” from the six analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a buy rating and five have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$68.00.

A number of analysts have weighed in on the stock. BMO Capital Markets upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 24th. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th.

Ovintiv Price Performance

Shares of TSE:OVV opened at C$60.45 on Wednesday. The business has a fifty day moving average price of C$61.07 and a 200-day moving average price of C$59.09. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.52 and a quick ratio of 0.51. The company has a market capitalization of C$11.00 billion, a PE ratio of 5.54, a PEG ratio of 0.05 and a beta of 2.63. Ovintiv has a 1-year low of C$49.74 and a 1-year high of C$76.63.

Ovintiv Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio (DPR) 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.