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

Ovintiv Inc. (TSE:OVV) 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 2.35%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Ovintiv’s previous quarterly dividend of $0.40.

Ovintiv Stock Up 0.6 %

TSE:OVV traded up C$0.40 on Thursday, reaching C$70.26. The stock had a trading volume of 53,584 shares, compared to its average volume of 126,877. The company 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. The stock has a market cap of C$18.90 billion, a P/E ratio of 6.47, 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.

Ovintiv (TSE:OVV) last issued its quarterly earnings results 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 return on equity of 23.09% and a net margin of 19.56%. The firm had revenue of C$4.31 billion during the quarter, compared to the consensus estimate of C$3.69 billion. On average, research analysts predict that Ovintiv will post 8.1245634 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OVV. Royal Bank of Canada increased their target price on Ovintiv from C$48.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. National Bankshares upped their target price on shares of 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.