Encana Corp. Declares Quarterly Dividend of $0.13 (TSE:OVV)

Encana Corp. (TSE:OVV) announced a quarterly dividend on Wednesday, October 28th, Zacks reports. Stockholders of record on Tuesday, December 15th will be paid a dividend of 0.125 per share on Thursday, December 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend is Monday, December 14th.

TSE OVV traded down C$0.38 during trading hours on Friday, reaching C$11.74. 397,308 shares of the company’s stock traded hands, compared to its average volume of 2,254,524. Encana has a 52-week low of C$2.95 and a 52-week high of C$24.28. The firm has a market cap of $3.15 billion and a PE ratio of -0.83. The firm has a 50-day simple moving average of C$12.03 and a 200 day simple moving average of C$12.00. The company has a debt-to-equity ratio of 143.22, a current ratio of 0.89 and a quick ratio of 0.68.

Encana (TSE:OVV) last issued its earnings results on Wednesday, October 28th. The company reported C($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.21) by C$0.17. The firm had revenue of C$1.59 billion during the quarter, compared to analysts’ expectations of C$1.84 billion.

A number of equities analysts have weighed in on OVV shares. Tudor Pickering & Holt set a C$14.00 price target on shares of Encana and gave the stock a “hold” rating in a research report on Tuesday, October 13th. Tudor Pickering reiterated a “hold” rating and issued a C$14.00 price target on shares of Encana in a research report on Monday, September 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of C$9.63.

Encana Company Profile

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company holds interests in various assets in Anadarko basin, located in west-central Oklahoma; the Permian basin located in the prolific, Midland Basin in Texas; and the Montney basin located in western Canada.

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