Ovintiv (TSE:OVV) Rating Increased to Strong-Buy at Siebert Williams Shank

Ovintiv (TSE:OVV) was upgraded by stock analysts at Siebert Williams Shank to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. Evercore ISI raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$58.50.

Ovintiv Price Performance

Shares of OVV opened at C$56.52 on Tuesday. The company has a debt-to-equity ratio of 67.70, a quick ratio of 0.51 and a current ratio of 0.44. Ovintiv has a fifty-two week low of C$49.74 and a fifty-two week high of C$76.63. The firm has a 50-day simple moving average of C$56.47 and a 200-day simple moving average of C$63.53. The company has a market capitalization of C$14.90 billion, a price-to-earnings ratio of 5.79, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63.

Ovintiv (TSE:OVV) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.69 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.67 by C$0.02. The company had revenue of C$3.13 billion during the quarter, compared to analysts’ expectations of C$3.46 billion. Ovintiv had a return on equity of 19.75% and a net margin of 18.84%. On average, equities research analysts anticipate that Ovintiv will post 5.6577693 earnings per share for the current year.

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.