Ovintiv Inc. (TSE:OVV – Get Free Report)’s share price shot up 1.3% on Thursday . The company traded as high as C$63.83 and last traded at C$63.77. 56,962 shares traded hands during trading, a decline of 52% from the average session volume of 118,938 shares. The stock had previously closed at C$62.97.
Analyst Upgrades and Downgrades
Separately, National Bankshares upped their price target on shares of Ovintiv from C$59.00 to C$68.00 and gave the company an “outperform” rating in a research note on Friday, April 19th.
Read Our Latest Analysis on Ovintiv
Ovintiv Price Performance
Ovintiv (TSE:OVV – Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported C$1.94 earnings per share for the quarter, beating the consensus estimate of C$1.80 by C$0.14. Ovintiv had a net margin of 18.52% and a return on equity of 21.33%. The business had revenue of C$3.17 billion for the quarter, compared to the consensus estimate of C$3.53 billion. Analysts predict that Ovintiv Inc. will post 8.5701299 EPS for the current fiscal year.
Ovintiv Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 28th were given a dividend of $0.413 per share. This is a positive change from Ovintiv’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, June 14th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 2.58%. Ovintiv’s dividend payout ratio is currently 16.70%.
Ovintiv Company Profile
Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.
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