Ovintiv Inc. (NYSE:OVV) Declares Quarterly Dividend of $0.09

Ovintiv Inc. (NYSE:OVV) announced a quarterly dividend on Wednesday, October 28th, Zacks reports. Shareholders of record on Tuesday, December 15th will be paid a dividend of 0.094 per share on Thursday, December 31st. This represents a $0.38 annualized dividend and a yield of 4.27%. The ex-dividend date is Monday, December 14th.

OVV stock traded down $0.31 during mid-day trading on Friday, hitting $8.81. 177,962 shares of the company were exchanged, compared to its average volume of 7,208,419. The business has a 50 day simple moving average of $9.10 and a 200-day simple moving average of $8.97. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $2.37 billion, a PE ratio of -0.62 and a beta of 4.09. Ovintiv has a 1-year low of $2.10 and a 1-year high of $25.00.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.02). Ovintiv had a positive return on equity of 3.58% and a negative net margin of 56.12%. The company had revenue of $726.00 million for the quarter, compared to analyst estimates of $1.28 billion. Equities research analysts expect that Ovintiv will post -0.26 earnings per share for the current year.

In related news, Director Howard John Mayson sold 8,100 shares of the business’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $8.48, for a total value of $68,688.00. Following the sale, the director now owns 16,121 shares of the company’s stock, valued at $136,706.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Rachel Maureen Moore acquired 6,000 shares of Ovintiv stock in a transaction that occurred on Friday, October 2nd. The stock was acquired at an average cost of $7.42 per share, for a total transaction of $44,520.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 9,200 shares of company stock worth $73,680. Insiders own 1.28% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. National Bank Financial lifted their price target on shares of Ovintiv from $15.00 to $15.50 and gave the company an “outperform” rating in a research report on Friday, October 16th. Raymond James set a $11.00 price target on shares of Ovintiv and gave the company a “market perform” rating in a research report on Thursday. TD Securities lifted their price target on shares of Ovintiv from $9.00 to $9.50 and gave the company a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Ovintiv from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, TheStreet downgraded shares of Ovintiv from a “c” rating to a “d” rating in a research report on Monday, August 31st. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the stock. Ovintiv has a consensus rating of “Hold” and a consensus price target of $12.54.

Ovintiv 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's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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