Ovintiv Inc. (OVV) To Go Ex-Dividend on March 14th

Ovintiv Inc. (NYSE:OVV) declared a quarterly dividend on Wednesday, February 26th, NASDAQ Dividends reports. Investors of record on Friday, March 14th will be paid a dividend of 0.30 per share on Monday, March 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Friday, March 14th.

Ovintiv has raised its dividend payment by an average of 36.9% per year over the last three years. Ovintiv has a dividend payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ovintiv to earn $5.39 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 22.3%.

Ovintiv Stock Performance

Ovintiv stock opened at $38.96 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv has a 12 month low of $36.62 and a 12 month high of $55.95. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 5.17 and a beta of 2.55. The stock’s 50-day moving average is $42.97 and its 200-day moving average is $41.91.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OVV shares. Williams Trading set a $58.00 price target on shares of Ovintiv in a research report on Wednesday, March 5th. Scotiabank upped their price target on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Barclays raised their price objective on Ovintiv from $57.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Mizuho decreased their target price on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, National Bankshares raised their target price on Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.94.

Ovintiv Company Profile

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.