Ovintiv Inc. (TSE:OVV) Increases Dividend to $0.41 Per Share

Ovintiv Inc. (TSE:OVV) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders 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 dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from Ovintiv’s previous quarterly dividend of $0.40.

Ovintiv Trading Up 0.6 %

OVV stock traded up C$0.40 during trading on Thursday, hitting C$70.26. The company had a trading volume of 53,584 shares, compared to its average volume of 126,877. The stock has a market cap of C$18.90 billion, a PE ratio of 6.47, a PEG ratio of 0.05 and a beta of 2.69. The business has a 50-day moving average of C$70.60 and a 200-day moving average of C$63.35. 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 one year low of C$43.23 and a one year high of C$76.63.

Ovintiv (TSE:OVV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported C$3.20 EPS for the quarter, beating analysts’ consensus estimates of C$2.61 by C$0.59. Ovintiv had a net margin of 19.56% and a return on equity of 23.09%. The company had revenue of C$4.31 billion for the quarter, compared to analyst estimates of C$3.69 billion. Research analysts predict that Ovintiv will post 8.1245634 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. National Bankshares lifted their price objective on shares of Ovintiv from C$59.00 to C$68.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Royal Bank of Canada raised their price objective on Ovintiv from C$48.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Thursday, February 29th.

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.