Ovintiv Inc. (TSE:OVV) Declares Quarterly Dividend of $0.32

Ovintiv Inc. (TSE:OVV – Get Rating) announced a quarterly dividend on Monday, May 9th, Zacks reports. Stockholders of record on Wednesday, June 15th will be paid a dividend of 0.321 per share on Thursday, June 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, June 14th. This is an increase from Ovintiv’s previous quarterly dividend of $0.25.

Shares of TSE OVV traded up C$2.84 during trading on Wednesday, reaching C$60.08. The stock had a trading volume of 428,355 shares, compared to its average volume of 450,331. Ovintiv has a fifty-two week low of C$28.10 and a fifty-two week high of C$73.50. The company has a debt-to-equity ratio of 113.84, a quick ratio of 0.57 and a current ratio of 0.58. The business’s 50-day moving average price is C$64.45 and its 200-day moving average price is C$53.26. The company has a market cap of C$15.54 billion and a P/E ratio of 8.59.

Ovintiv (TSE:OVV – Get Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported C$1.58 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.03 by C($0.45). The firm had revenue of C$4.21 billion during the quarter, compared to analyst estimates of C$2.37 billion. Analysts forecast that Ovintiv will post 15.5800003 EPS for the current fiscal year.

Several research firms recently commented on OVV. Capital One Financial raised Ovintiv from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, March 23rd. Tudor Pickering boosted their target price on Ovintiv to C$54.00 and gave the stock a “buy” rating in a research note on Friday, January 21st. Raymond James set a C$52.00 target price on Ovintiv and gave the stock a “market perform” rating in a research note on Friday, February 25th. Finally, Tudor Pickering & Holt boosted their target price on Ovintiv from C$51.00 to C$54.00 and gave the stock a “buy” rating in a research note on Friday, January 21st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Ovintiv has an average rating of “Buy” and a consensus price target of C$50.33.

Ovintiv Company Profile (Get Rating)

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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