Ovintiv (TSE:OVV) Hits New 1-Year High – Here’s What Happened

Ovintiv Inc. (TSE:OVV) shares hit a new 52-week high during trading on Monday . The company traded as high as C$71.38 and last traded at C$70.62, with a volume of 195766 shares changing hands. The stock had previously closed at C$68.84.

Analyst Upgrades and Downgrades

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

Ovintiv Stock Performance

The business has a 50 day moving average of C$59.54 and a 200-day moving average of C$56.76. The company has a market capitalization of C$20.01 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.05 and a beta of 1.05. The company has a debt-to-equity ratio of 67.25, a quick ratio of 0.51 and a current ratio of 0.54.

Ovintiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, March 13th. Ovintiv’s dividend payout ratio (DPR) is 25.10%.

About Ovintiv

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.