Ovintiv (TSE:OVV) Shares Down 0.1% – Here’s What Happened

Ovintiv Inc. (TSE:OVV) traded down 0.1% on Thursday . The company traded as low as C$82.01 and last traded at C$83.57. 186,173 shares were traded during mid-day trading, a decline of 46% from the average session volume of 344,814 shares. The stock had previously closed at C$83.62.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stephens raised Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Truist Financial upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Monday, March 23rd. TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Monday, February 9th. Citigroup cut shares of Ovintiv from a “strong-buy” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Scotiabank raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Five equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Ovintiv presently has a consensus rating of “Buy”.

Ovintiv Stock Down 0.1%

The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 67.25. The stock has a 50-day simple moving average of C$76.55 and a two-hundred day simple moving average of C$62.91. The firm has a market cap of C$23.68 billion, a PE ratio of 17.48, a P/E/G ratio of 0.05 and a beta of 0.42.

Ovintiv (TSE:OVV) last posted its quarterly earnings data on Monday, February 23rd. The company reported C$5.10 earnings per share (EPS) for the quarter. The firm had revenue of C$2.81 billion during the quarter. Ovintiv had a return on equity of 11.86% and a net margin of 14.13%. Analysts expect that Ovintiv Inc. will post 5.6577693 earnings per share for the current year.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.20 annualized dividend and a yield of 1.4%. Ovintiv’s dividend payout ratio is currently 25.10%.

Ovintiv Company Profile

Ovintiv Inc is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the province of Alberta. Ovintiv’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Pipestone and Wapiti areas of the Alberta Deep Basin.