Ovintiv Inc. (OVV) To Go Ex-Dividend on December 13th

Ovintiv Inc. (NYSE:OVV) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.30 per share on Tuesday, December 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, December 13th.

Ovintiv has raised its dividend payment by an average of 45.3% annually over the last three years. Ovintiv has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ovintiv to earn $4.83 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 24.8%.

Ovintiv Stock Up 3.9 %

Shares of Ovintiv stock traded up $1.62 on Friday, hitting $43.17. The company had a trading volume of 4,205,690 shares, compared to its average volume of 3,058,182. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 7.99 and a beta of 2.62. Ovintiv has a 1 year low of $36.90 and a 1 year high of $55.95. The stock has a 50 day moving average of $40.51 and a 200-day moving average of $44.91. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44.

Analyst Ratings Changes

Several analysts have recently commented on the company. Citigroup lowered their price objective on Ovintiv from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 7th. Siebert Williams Shank raised Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. Evercore ISI reduced their target price on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Truist Financial reduced their target price on Ovintiv from $62.00 to $47.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Morgan Stanley reduced their target price on Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

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.