Ovintiv (TSE:OVV) Upgraded by Citigroup to “Strong-Buy” Rating

Ovintiv (TSE:OVV) was upgraded by stock analysts at Citigroup from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on OVV. Stephens upgraded Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. Scotiabank upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Truist Financial upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, March 23rd. Finally, TD Cowen upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Six equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Ovintiv Price Performance

Shares of OVV stock opened at C$81.97 on Wednesday. The firm has a market cap of C$23.04 billion, a P/E ratio of 26.96, a P/E/G ratio of 0.05 and a beta of 0.58. Ovintiv has a fifty-two week low of C$48.41 and a fifty-two week high of C$86.86. The business’s 50 day moving average price is C$79.28 and its 200-day moving average price is C$65.59. The company has a debt-to-equity ratio of 66.59, a quick ratio of 0.51 and a current ratio of 0.56.

Ovintiv (TSE:OVV) last issued its quarterly earnings data on Monday, May 11th. The company reported C($3.27) earnings per share for the quarter. The business had revenue of C$3.52 billion during the quarter. Ovintiv had a return on equity of 7.13% and a net margin of 8.59%. On average, equities research analysts anticipate that Ovintiv will post 5.6577693 earnings per share for the current year.

About Ovintiv

Ovintiv Inc is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the province of Alberta. Ovintiv’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Pipestone and Wapiti areas of the Alberta Deep Basin.