Ovintiv Inc. Plans Quarterly Dividend of $0.41 (TSE:OVV)

Ovintiv Inc. (TSE:OVV) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.41 per share on Friday, September 27th. This represents a $1.64 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, September 13th.

Ovintiv Stock Performance

Shares of TSE OVV traded down C$0.40 during mid-day trading on Thursday, reaching C$63.77. 2,517 shares of the company’s stock were exchanged, compared to its average volume of 113,307. The firm has a market capitalization of C$17.03 billion, a price-to-earnings ratio of 6.53, a price-to-earnings-growth ratio of 0.05 and a beta of 2.67. Ovintiv has a 52 week low of C$53.61 and a 52 week high of C$76.63. The company has a debt-to-equity ratio of 69.30, a current ratio of 0.52 and a quick ratio of 0.51. The firm has a 50-day moving average price of C$64.91 and a two-hundred day moving average price of C$65.53.

Ovintiv (TSE:OVV) last released its earnings results on Tuesday, May 7th. The company reported C$1.94 EPS for the quarter, topping analysts’ consensus estimates of C$1.80 by C$0.14. Ovintiv had a return on equity of 21.33% and a net margin of 18.52%. The company had revenue of C$3.17 billion for the quarter, compared to analysts’ expectations of C$3.53 billion. Analysts predict that Ovintiv will post 8.5701299 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Ovintiv to a “strong-buy” rating in a research note on Thursday, July 18th. Finally, National Bankshares lifted their target price on Ovintiv from C$59.00 to C$68.00 and gave the company an “outperform” rating in a report on Friday, April 19th.

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.