Ovintiv (TSE:OVV) Shares Down 0.1% - Here's What Happened

Key Points

• Ovintiv shares slipped 0.1% to C$83.57 mid-day (intraday low C$82.01) on Thursday, with volume of ~186,173 shares — about 46% below its average daily volume.
• Analyst sentiment is positive: MarketBeat shows a consensus rating of Buy (five Strong Buy, one Buy, four Hold), with recent upgrades from TD Cowen, Truist and Scotiabank.
• Key fundamentals include a market cap of C$23.68B, trailing P/E of 17.48, quarterly EPS of C$5.10 on C$2.81B revenue, and a quarterly dividend of C$0.30 (annualized C$1.20, yield ~1.4%, DPR 25.1%).

Ovintiv Inc. (TSE:OVV - Get Free Report) shares dropped 0.1% during mid-day trading on Thursday . The stock traded as low as C$82.01 and last traded at C$83.57. Approximately 186,173 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 344,814 shares. The stock had previously closed at C$83.62.

Analysts Set New Price Targets

A number of research analysts have recently commented on OVV shares. TD Cowen raised Ovintiv to a "strong-buy" rating in a research report on Monday, February 9th. Truist Financial raised Ovintiv to a "strong-buy" rating in a report on Monday, March 23rd. Stephens upgraded Ovintiv to a "hold" rating in a research note on Tuesday, February 3rd. Citigroup downgraded shares of Ovintiv from a "strong-buy" rating to a "hold" rating in a report on Sunday, March 29th. Finally, Scotiabank upgraded shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 11th. Five research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Ovintiv presently has a consensus rating of "Buy".

Ovintiv Trading Down 0.1%

The firm has a 50-day simple moving average of C$76.55 and a 200-day simple moving average of C$62.91. The stock has a market cap of C$23.68 billion, a PE ratio of 17.48, a P/E/G ratio of 0.05 and a beta of 0.42. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 67.25.

Ovintiv (TSE:OVV - Get Free Report) last posted its earnings results on Monday, February 23rd. The company reported C$5.10 earnings per share for the quarter. Ovintiv had a net margin of 14.13% and a return on equity of 11.86%. The business had revenue of C$2.81 billion for the quarter. Equities analysts forecast that Ovintiv Inc. will post 5.6577693 earnings per share for the current year.

Ovintiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, March 13th. Ovintiv's dividend payout ratio (DPR) is 25.10%.

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.

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