Ovintiv Inc. (OVV) To Go Ex-Dividend on June 15th

Ovintiv Inc. (NYSE:OVV) declared a quarterly dividend on Monday, May 11th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.30 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 2.1%. 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 dividend payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ovintiv to earn $7.05 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 17.0%.

Ovintiv Stock Performance

Shares of OVV opened at $57.33 on Friday. The business has a 50-day simple moving average of $57.76 and a two-hundred day simple moving average of $49.84. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.48. Ovintiv has a 52 week low of $35.47 and a 52 week high of $63.46. The stock has a market cap of $16.11 billion, a price-to-earnings ratio of 18.49 and a beta of 0.53.

Ovintiv (NYSE:OVV) last posted its quarterly earnings data on Monday, May 11th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.15. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Ovintiv had a return on equity of 13.14% and a net margin of 8.51%. On average, analysts expect that Ovintiv will post 8.15 EPS for the current year.

Ovintiv Company Profile

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.