Ovintiv Inc. (OVV) to Issue Quarterly Dividend of $0.30 on December 31st

Ovintiv Inc. (NYSE:OVV – Get Free Report) announced a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.30 per share on Thursday, December 31st. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, December 15th.

Ovintiv has raised its dividend by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Ovintiv has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ovintiv to earn $8.08 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 14.9%.

Ovintiv Price Performance

Ovintiv stock opened at $62.84 on Thursday. Ovintiv has a one year low of $35.47 and a one year high of $73.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $17.31 billion, a P/E ratio of 9.40 and a beta of 0.57. The business has a fifty day moving average of $64.98 and a two-hundred day moving average of $57.81.

Insider Buying and Selling

In other Ovintiv news, EVP Rachel Moore sold 7,753 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total transaction of $490,919.96. Following the completion of the transaction, the executive vice president directly owned 72,530 shares of the company’s stock, valued at approximately $4,592,599.60. This trade represents a 9.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Ovintiv

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lido Advisors LLC grew its stake in shares of Ovintiv by 3.4% in the third quarter. Lido Advisors LLC now owns 44,552 shares of the company’s stock worth $2,576,000 after acquiring an additional 1,463 shares during the last quarter. M&G PLC lifted its stake in Ovintiv by 11.3% during the third quarter. M&G PLC now owns 273,303 shares of the company’s stock worth $15,852,000 after purchasing an additional 27,747 shares during the period. Fulcrum Asset Management LLP bought a new position in Ovintiv during the third quarter worth about $543,000. Brighton Jones LLC boosted its holdings in Ovintiv by 7.8% during the third quarter. Brighton Jones LLC now owns 17,041 shares of the company’s stock valued at $985,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in Ovintiv during the third quarter valued at approximately $513,000. Institutional investors and hedge funds own 83.81% of the company’s stock.

About Ovintiv

(Get Free Report)

Ovintiv Inc is an independent energy company engaged in the exploration, development, production and marketing of oil, condensate, natural gas liquids and natural gas. The company’s operations are focused on North America, with production and resource development activities in the United States and Canada.

Ovintiv’s U.S. operations include assets in the Permian Basin of Texas and New Mexico and the Uinta Basin of Utah. In Canada, the company’s portfolio includes the Montney and Horn River natural gas and liquids-rich plays in British Columbia and Alberta.

See Also

Dividend History for Ovintiv (NYSE:OVV)

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