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

Ovintiv Inc. (TSE:OVV) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.413 per share on Friday, June 28th. This represents a $1.65 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, June 14th. This is a positive change from Ovintiv’s previous quarterly dividend of $0.40.

Ovintiv Stock Performance

Ovintiv stock traded up C$0.28 during mid-day trading on Thursday, hitting C$70.14. The company had a trading volume of 49,093 shares, compared to its average volume of 126,832. The company has a current ratio of 0.60, a quick ratio of 0.51 and a debt-to-equity ratio of 64.45. Ovintiv has a 12-month low of C$43.23 and a 12-month high of C$76.63. The company’s fifty day moving average is C$70.60 and its 200-day moving average is C$63.35. The company has a market capitalization of C$18.86 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 0.05 and a beta of 2.69.

Ovintiv (TSE:OVV) last issued its earnings results on Tuesday, February 27th. The company reported C$3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.61 by C$0.59. Ovintiv had a return on equity of 23.09% and a net margin of 19.56%. The business had revenue of C$4.31 billion during the quarter, compared to the consensus estimate of C$3.69 billion. Equities research analysts predict that Ovintiv will post 8.1245634 EPS for the current year.

Analysts Set New Price Targets

OVV has been the topic of several research reports. Royal Bank of Canada increased their price target on shares of Ovintiv from C$48.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th. National Bankshares lifted their price target on shares of Ovintiv from C$59.00 to C$68.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th.

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.