BMO Capital Markets Upgrades Ovintiv (TSE:OVV) to Strong-Buy

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

Separately, Scotiabank raised Ovintiv to a “strong-buy” rating in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average price target of C$68.00.

Ovintiv Price Performance

TSE:OVV opened at C$62.57 on Monday. The stock has a 50 day moving average of C$61.32 and a two-hundred day moving average of C$58.96. Ovintiv has a 12 month low of C$49.74 and a 12 month high of C$76.63. The firm has a market cap of C$11.38 billion, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63. The company has a current ratio of 0.52, a quick ratio of 0.51 and a debt-to-equity ratio of 63.59.

Ovintiv Company Profile

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.