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

Ovintiv Inc. (NYSE:OVV) declared a quarterly dividend on Monday, May 11th. Investors of record on Monday, June 15th will be given a dividend of 0.30 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 15th.

Ovintiv has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 4 years. Ovintiv has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ovintiv to earn $6.51 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 18.4%.

Ovintiv Price Performance

Shares of OVV opened at $59.07 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $16.74 billion, a PE ratio of 12.20, a PEG ratio of 1.94 and a beta of 0.57. The firm’s 50 day moving average price is $56.70 and its 200 day moving average price is $46.53. Ovintiv has a twelve month low of $34.88 and a twelve month high of $63.46.

Ovintiv (NYSE:OVV) last posted its earnings results on Monday, February 23rd. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $0.98 by $0.41. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.89 billion. Ovintiv had a net margin of 13.94% and a return on equity of 12.00%. During the same period in the previous year, the firm posted ($0.23) earnings per share. As a group, research analysts expect that Ovintiv will post 6.35 EPS for the current fiscal year.

About Ovintiv

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.