Ovintiv Inc. (NYSE:OVV) Plans Quarterly Dividend of $0.30

Ovintiv Inc. (NYSE:OVV) declared a quarterly dividend on Monday, February 23rd. Shareholders of record on Friday, March 13th will be paid a dividend of 0.30 per share on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, March 13th.

Ovintiv has increased its dividend by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Ovintiv has a payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

OVV stock traded down $0.33 during mid-day trading on Tuesday, reaching $50.50. 1,294,892 shares of the company traded hands, compared to its average volume of 4,761,250. The company has a fifty day moving average price of $41.90 and a 200-day moving average price of $40.56. Ovintiv has a 52-week low of $29.80 and a 52-week high of $51.60. The company has a market capitalization of $12.79 billion, a P/E ratio of 55.05, a P/E/G ratio of 2.84 and a beta of 0.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.45 and a quick ratio of 0.45.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.41. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.89 billion. Ovintiv had a net margin of 2.64% and a return on equity of 12.22%. During the same period last year, the business earned ($0.23) earnings per share. As a group, analysts anticipate that Ovintiv will post 5.59 earnings per share for the current year.

Ovintiv Company Profile

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.