Ovintiv (TSE:OVV) Trading Down 0.6% - Time to Sell?

Ovintiv Inc. (TSE:OVV - Get Free Report)'s share price dropped 0.6% on Monday . The stock traded as low as C$51.31 and last traded at C$52.21. Approximately 141,891 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 190,391 shares. The stock had previously closed at C$52.55.

Wall Street Analysts Forecast Growth

OVV has been the topic of several analyst reports. BMO Capital Markets raised shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 24th. Scotiabank raised shares of Ovintiv to a "strong-buy" rating in a research note on Wednesday, March 19th. Five research analysts have rated the stock with a strong buy rating, According to MarketBeat, the stock presently has an average rating of "Strong Buy".

Ovintiv Trading Down 0.6%

The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 63.59. The company has a market cap of C$9.50 billion, a P/E ratio of 4.79, a PEG ratio of 0.05 and a beta of 2.63. The firm's 50 day moving average is C$52.03 and its two-hundred day moving average is C$57.55.

Ovintiv Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.30%. Ovintiv's payout ratio is 14.85%.

About Ovintiv

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.

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