Ovintiv (TSE:OVV) Upgraded at Scotiabank

Ovintiv (TSE:OVV) was upgraded by Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on OVV. Wells Fargo & Company upgraded Ovintiv to a “hold” rating in a research report on Friday, October 17th. William Blair raised Ovintiv to a “strong-buy” rating in a research note on Wednesday, November 26th. Royal Bank Of Canada raised Ovintiv from a “hold” rating to a “moderate buy” rating in a report on Wednesday, October 15th. TD Cowen raised shares of Ovintiv to a “strong-buy” rating in a report on Monday. Finally, Stephens raised shares of Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Ovintiv Stock Down 3.5%

OVV stock opened at C$62.56 on Wednesday. The stock has a market cap of C$17.73 billion, a PE ratio of 67.27, a price-to-earnings-growth ratio of 0.05 and a beta of 1.05. The firm’s 50-day simple moving average is C$56.10 and its 200 day simple moving average is C$55.63. Ovintiv has a fifty-two week low of C$42.35 and a fifty-two week high of C$65.36. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 63.59.

Ovintiv (TSE:OVV) last posted its earnings results on Tuesday, November 4th. The company reported C$0.57 earnings per share (EPS) for the quarter. Ovintiv had a net margin of 20.34% and a return on equity of 19.62%. The firm had revenue of C$2.88 billion during the quarter. As a group, sell-side analysts predict that Ovintiv will post 5.6577693 EPS for the current year.

About Ovintiv

Ovintiv Inc is a leading North American exploration and production (E&P) company focused on developing its high-quality, multi-basin portfolio. Ovintiv works to safely produce crude oil and natural gas-products that make modern life possible for all. The Company is focused on creating long-term shareholder value while contributing to the strength and sustainability of the communities where it operates.