Ovintiv Inc. (OVV) To Go Ex-Dividend on June 14th

Ovintiv Inc. (NYSE:OVV) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.30 per share on Friday, June 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, June 14th.

Ovintiv has increased its dividend payment by an average of 45.3% per year over the last three years and has raised its dividend every year for the last 3 years. Ovintiv has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ovintiv to earn $6.86 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 17.5%.

Ovintiv Trading Up 0.2 %

Shares of Ovintiv stock traded up $0.10 during midday trading on Thursday, reaching $51.01. The company had a trading volume of 1,381,237 shares, compared to its average volume of 3,029,236. The firm has a market cap of $13.72 billion, a PE ratio of 6.45 and a beta of 2.65. The stock has a fifty day moving average price of $51.85 and a 200 day moving average price of $46.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60. Ovintiv has a fifty-two week low of $32.07 and a fifty-two week high of $55.95.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $2.75 billion. On average, equities analysts anticipate that Ovintiv will post 6.13 earnings per share for the current year.

Insider Buying and Selling

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total transaction of $303,360.00. Following the completion of the sale, the director now owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Rachel Maureen Moore sold 9,300 shares of Ovintiv stock in a transaction on Friday, March 1st. The shares were sold at an average price of $50.65, for a total value of $471,045.00. Following the transaction, the executive vice president now owns 52,557 shares in the company, valued at approximately $2,662,012.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Howard John Mayson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.56, for a total value of $303,360.00. Following the completion of the sale, the director now directly owns 36,840 shares of the company’s stock, valued at approximately $1,862,630.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,564 shares of company stock worth $4,660,818. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OVV shares. Scotiabank cut their target price on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Morgan Stanley lifted their target price on shares of Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. UBS Group upped their target price on Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, April 11th. National Bankshares dropped their price target on Ovintiv from $69.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Finally, Mizuho reiterated a “buy” rating and set a $58.00 target price on shares of Ovintiv in a research note on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.71.

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.