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

Ovintiv Inc. (TSE:OVV - Get Free Report) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.413 per share on Friday, June 28th. This represents a $1.65 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, June 14th. This is a boost from Ovintiv's previous quarterly dividend of $0.40.

Ovintiv Price Performance

Shares of TSE OVV traded down C$0.25 during midday trading on Thursday, reaching C$69.61. The stock had a trading volume of 110,000 shares, compared to its average volume of 127,518. The company has a market capitalization of C$18.72 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.05 and a beta of 2.69. Ovintiv has a 12-month low of C$43.23 and a 12-month high of C$76.63. The stock has a 50-day moving average of C$70.70 and a 200-day moving average of C$63.39. The company has a debt-to-equity ratio of 64.45, a quick ratio of 0.51 and a current ratio of 0.60.

Ovintiv (TSE:OVV - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported C$3.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$2.61 by C$0.59. The business had revenue of C$4.31 billion during the quarter, compared to analyst estimates of C$3.69 billion. Ovintiv had a return on equity of 23.09% and a net margin of 19.56%. As a group, research analysts anticipate that Ovintiv will post 8.1245634 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on OVV shares. Royal Bank of Canada lifted their price target on shares of Ovintiv from C$48.00 to C$49.00 and gave the company a "sector perform" rating in a report on Thursday, February 29th. National Bankshares boosted their target price on Ovintiv from C$59.00 to C$68.00 and gave the stock an "outperform" rating in a research report on Friday, April 19th.

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.