Ovintiv (TSE:OVV) Sets New 1-Year High – What’s Next?

Ovintiv Inc. (TSE:OVV) reached a new 52-week high during trading on Monday . The stock traded as high as C$73.85 and last traded at C$72.72, with a volume of 331683 shares traded. The stock had previously closed at C$71.00.

Analyst Ratings Changes

Several research firms have issued reports on OVV. TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. William Blair raised shares of Ovintiv to a “strong-buy” rating in a report on Wednesday, November 26th. Finally, Stephens upgraded shares of Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Ovintiv Stock Performance

The company has a market cap of C$20.76 billion, a P/E ratio of 15.33, a P/E/G ratio of 0.05 and a beta of 1.06. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 67.25. The business has a fifty day simple moving average of C$60.69 and a two-hundred day simple moving average of C$57.12.

Ovintiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. Ovintiv’s dividend payout ratio (DPR) is presently 25.10%.

Ovintiv Company Profile

Ovintiv Inc is a leading North American exploration and production (E&P) company focused on developing its high-quality, multi-basin portfolio. Ovintiv works to safely produce crude oil and natural gas-products that make modern life possible for all. The Company is focused on creating long-term shareholder value while contributing to the strength and sustainability of the communities where it operates.