Ovintiv Inc. (TSE:OVV – Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as C$93.53 and last traded at C$93.51, with a volume of 110334 shares trading hands. The stock had previously closed at C$90.84.
The newly announced dividend which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, September 15th. Ovintiv’s dividend payout ratio is presently 33.52%.
Analyst Ratings Changes
A number of research firms have recently weighed in on OVV. Seaport Research Partners upgraded Ovintiv to a “hold” rating in a report on Wednesday, September 2nd. Citigroup upgraded Ovintiv from a “hold” rating to a “strong-buy” rating and set a C$70.00 price target on the stock in a report on Wednesday, May 20th. Wells Fargo & Company raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, September 2nd. Finally, Texas Capital upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Thursday, June 25th. Seven analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Strong Buy” and a consensus price target of C$75.00.
Ovintiv Stock Performance
The company has a market cap of C$25.91 billion, a PE ratio of 26.17, a P/E/G ratio of 0.05 and a beta of 0.37. The company has a debt-to-equity ratio of 43.73, a quick ratio of 0.51 and a current ratio of 1.01. The stock’s 50-day simple moving average is C$86.44 and its 200 day simple moving average is C$80.85.
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.
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