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. Stockholders 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 2.78%. The ex-dividend date is Friday, March 14th.

Ovintiv has increased its dividend by an average of 36.9% annually over the last three years. Ovintiv has a dividend payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 3.1 %

Shares of OVV stock opened at $43.19 on Friday. Ovintiv has a 1 year low of $36.90 and a 1 year high of $55.95. The firm has a market capitalization of $11.24 billion, a PE ratio of 5.73 and a beta of 2.60. The stock has a fifty day moving average of $42.92 and a two-hundred day moving average of $42.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Analyst Upgrades and Downgrades

OVV has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. UBS Group lowered their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Barclays upped their target price on Ovintiv from $57.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Mizuho lowered their price target on Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and cut their price objective for the company from $55.00 to $54.00 in a report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and a consensus target price of $56.88.

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.