Ovintiv Inc. (NYSE:OVV) Announces Quarterly Dividend of $0.30

Ovintiv Inc. (NYSE:OVV) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.30 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Ovintiv has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Ovintiv has a payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Ovintiv to earn $5.72 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.0%.

Ovintiv Trading Up 1.5%

Shares of OVV stock opened at $61.41 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. Ovintiv has a 12-month low of $35.47 and a 12-month high of $63.46. The stock’s 50-day moving average price is $56.31 and its 200-day moving average price is $53.03. The stock has a market capitalization of $17.26 billion, a price-to-earnings ratio of 19.81 and a beta of 0.53.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.20). The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Ovintiv had a return on equity of 13.14% and a net margin of 8.51%. Equities research analysts predict that Ovintiv will post 7.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Ovintiv

A number of institutional investors have recently modified their holdings of the stock. Stifel Financial Corp raised its position in Ovintiv by 1.4% during the fourth quarter. Stifel Financial Corp now owns 19,113 shares of the company’s stock worth $749,000 after acquiring an additional 269 shares during the period. CX Institutional lifted its holdings in Ovintiv by 1.0% during the second quarter. CX Institutional now owns 28,363 shares of the company’s stock valued at $1,493,000 after purchasing an additional 276 shares in the last quarter. Root Financial Partners LLC grew its position in shares of Ovintiv by 43.2% in the first quarter. Root Financial Partners LLC now owns 918 shares of the company’s stock valued at $54,000 after purchasing an additional 277 shares during the period. Deseret Mutual Benefit Administrators increased its stake in shares of Ovintiv by 27.6% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,328 shares of the company’s stock worth $52,000 after purchasing an additional 287 shares in the last quarter. Finally, Fiduciary Financial Group LLC increased its stake in shares of Ovintiv by 3.2% during the fourth quarter. Fiduciary Financial Group LLC now owns 9,460 shares of the company’s stock worth $371,000 after purchasing an additional 297 shares in the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

About Ovintiv

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.