Ovintiv Inc. (TSE:OVV) Declares Quarterly Dividend of $0.30

Ovintiv Inc. (TSE:OVV) declared a quarterly dividend on Monday, June 15th, TickerTech Dividends reports. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.30 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 15th.

Ovintiv Stock Up 1.7%

Shares of OVV stock traded up C$1.35 during mid-day trading on Friday, hitting C$80.24. 196,287 shares of the stock traded hands, compared to its average volume of 300,937. Ovintiv has a 52-week low of C$50.13 and a 52-week high of C$86.86. The stock has a market cap of C$22.55 billion, a P/E ratio of 26.39, a P/E/G ratio of 0.05 and a beta of 0.44. The company has a debt-to-equity ratio of 66.59, a current ratio of 0.56 and a quick ratio of 0.51. The stock’s fifty day moving average is C$79.53 and its two-hundred day moving average is C$68.57.

Ovintiv (TSE:OVV) last released its quarterly earnings results on Monday, May 11th. The company reported C($3.27) earnings per share (EPS) for the quarter. Ovintiv had a return on equity of 7.13% and a net margin of 8.59%.The firm had revenue of C$3.52 billion during the quarter. Equities analysts predict that Ovintiv will post 5.6577693 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OVV shares. Truist Financial raised Ovintiv to a “strong-buy” rating in a research report on Monday, March 23rd. Citigroup raised Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price target for the company in a report on Wednesday, May 20th. Six analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Ovintiv has a consensus rating of “Buy” and a consensus target price of C$70.00.

Ovintiv Company Profile

Ovintiv Inc is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the province of Alberta. Ovintiv’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Pipestone and Wapiti areas of the Alberta Deep Basin.