Ovintiv (TSE:OVV) Trading 3.7% Higher – Should You Buy?

Ovintiv Inc. (TSE:OVV) was up 3.7% on Thursday . The company traded as high as C$63.62 and last traded at C$62.36. Approximately 250,233 shares were traded during mid-day trading, an increase of 70% from the average daily volume of 147,163 shares. The stock had previously closed at C$60.13.

Ovintiv Stock Performance

The company has a debt-to-equity ratio of 63.59, a current ratio of 0.52 and a quick ratio of 0.51. The firm has a market capitalization of C$11.25 billion, a P/E ratio of 5.67, a P/E/G ratio of 0.05 and a beta of 2.63. The stock’s 50 day moving average is C$61.59 and its two-hundred day moving average is C$59.02.

Ovintiv Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.406 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s dividend payout ratio is currently 14.85%.

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.