Ovintiv Inc. (TSE:OVV – Get Free Report)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as C$50.06 and last traded at C$50.20, with a volume of 158435 shares changing hands. The stock had previously closed at C$52.37.
Analyst Upgrades and Downgrades
OVV has been the subject of a number of research reports. Wolfe Research raised shares of Ovintiv to a “strong-buy” rating in a report on Thursday, July 18th. Evercore ISI upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th.
Ovintiv Trading Down 4.9 %
Ovintiv (TSE:OVV – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.67 by C$0.02. The firm had revenue of C$3.13 billion for the quarter, compared to analyst estimates of C$3.46 billion. Ovintiv had a net margin of 18.84% and a return on equity of 19.75%.
Ovintiv Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, September 13th. Ovintiv’s dividend payout ratio is 16.84%.
About Ovintiv
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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