Ovintiv Inc. (NYSE:OVV) Shareholders Set to Receive $0.30 Quarterly Dividend

Ovintiv Inc. (NYSE:OVV) declared a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.30 per share on Thursday, December 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, December 15th.

Ovintiv has raised its dividend payment by an average of 0.2% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Ovintiv has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ovintiv to earn $8.08 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 14.9%.

Ovintiv Price Performance

Shares of NYSE OVV opened at $64.34 on Wednesday. The stock has a market cap of $17.73 billion, a P/E ratio of 18.05 and a beta of 0.57. The firm’s 50-day simple moving average is $65.01 and its 200 day simple moving average is $57.69. Ovintiv has a fifty-two week low of $35.47 and a fifty-two week high of $73.61. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.32.

Insider Transactions at Ovintiv

In other Ovintiv news, EVP Rachel Moore sold 7,753 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $63.32, for a total value of $490,919.96. Following the transaction, the executive vice president owned 72,530 shares in the company, valued at $4,592,599.60. The trade was a 9.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Trading of Ovintiv

Large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Ovintiv by 7.8% in the 3rd quarter. Brighton Jones LLC now owns 17,041 shares of the company’s stock valued at $985,000 after purchasing an additional 1,228 shares during the period. Alps Advisors Inc. bought a new position in Ovintiv in the third quarter worth $513,000. CenterBook Partners LP acquired a new stake in Ovintiv during the third quarter valued at approximately $1,522,000. Heritage Family Offices LLP bought a new stake in Ovintiv in the third quarter valued at $72,000. Finally, Kestra Advisory Services LLC grew its holdings in shares of Ovintiv by 13.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 6,836 shares of the company’s stock worth $395,000 after purchasing an additional 827 shares during the last quarter. 83.81% of the stock is owned by institutional investors.

About Ovintiv

Ovintiv Inc is an independent energy company engaged in the exploration, development, production and marketing of oil, condensate, natural gas liquids and natural gas. The company’s operations are focused on North America, with production and resource development activities in the United States and Canada.

Ovintiv’s U.S. operations include assets in the Permian Basin of Texas and New Mexico and the Uinta Basin of Utah. In Canada, the company’s portfolio includes the Montney and Horn River natural gas and liquids-rich plays in British Columbia and Alberta.