Ovintiv (TSE:OVV) Rating Increased to Strong-Buy at Scotiabank

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

Ovintiv Price Performance

OVV opened at C$59.60 on Wednesday. Ovintiv has a one year low of C$49.74 and a one year high of C$76.63. 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’s 50 day simple moving average is C$61.41 and its 200-day simple moving average is C$58.90. The stock has a market capitalization of C$10.84 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63.

Ovintiv Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.01%. Ovintiv’s dividend payout ratio (DPR) is currently 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.