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. Shareholders of record on Friday, December 13th will be given a dividend of 0.30 per share on Tuesday, December 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.90%. 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 25.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ovintiv to earn $4.92 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 24.4%.

Ovintiv Stock Down 0.0 %

OVV stock opened at $41.34 on Wednesday. The stock has a fifty day moving average of $42.40 and a 200-day moving average of $43.71. Ovintiv has a fifty-two week low of $36.90 and a fifty-two week high of $55.95. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 5.48 and a beta of 2.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52.

Analysts Set New Price Targets

A number of equities analysts have weighed in on OVV shares. Truist Financial increased their target price on shares of Ovintiv from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Morgan Stanley cut their price objective on shares of Ovintiv from $53.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Scotiabank boosted their target price on shares of Ovintiv from $50.00 to $53.00 and gave the company a “sector outperform” rating in a report on Monday, November 18th. Citigroup cut their price target on Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Barclays lifted their price target on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.47.

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.