Ovintiv (TSE:OVV) Trading Down 0.1% – Should You Sell?

Shares of Ovintiv Inc. (TSE:OVV) traded down 0.1% on Thursday . The company traded as low as C$82.01 and last traded at C$83.57. 186,173 shares changed hands during trading, a decline of 46% from the average session volume of 344,814 shares. The stock had previously closed at C$83.62.

Analyst Upgrades and Downgrades

A number of research firms have commented on OVV. Scotiabank upgraded shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Truist Financial upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Monday, March 23rd. Stephens upgraded shares of Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. TD Cowen upgraded shares of Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Citigroup downgraded shares of Ovintiv from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 29th. Five equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Ovintiv Stock Performance

The business’s fifty day moving average price is C$76.55 and its two-hundred day moving average price is C$62.91. The company has a debt-to-equity ratio of 67.25, a quick ratio of 0.51 and a current ratio of 0.54. The stock has a market capitalization of C$23.42 billion, a P/E ratio of 17.29, a P/E/G ratio of 0.05 and a beta of 0.42.

Ovintiv (TSE:OVV) last released its earnings results on Monday, February 23rd. The company reported C$5.10 earnings per share for the quarter. Ovintiv had a return on equity of 11.86% and a net margin of 14.13%.The firm had revenue of C$2.81 billion for the quarter. As a group, sell-side analysts forecast that Ovintiv Inc. will post 5.6577693 earnings per share for the current year.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, March 13th. Ovintiv’s dividend payout ratio is currently 25.10%.

About Ovintiv

Ovintiv Inc is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the province of Alberta. Ovintiv’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Pipestone and Wapiti areas of the Alberta Deep Basin.