Ovintiv (TSE:OVV) Sets New 12-Month Low – Should You Sell?

Ovintiv Inc. (TSE:OVV) reached a new 52-week low during trading on Friday . The stock traded as low as C$49.33 and last traded at C$49.33, with a volume of 79344 shares trading hands. The stock had previously closed at C$55.00.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OVV. BMO Capital Markets raised Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 24th. Scotiabank raised shares of Ovintiv to a “strong-buy” rating in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average price target of C$68.00.

Ovintiv Trading Down 11.8 %

The company has a market cap of C$8.82 billion, a P/E ratio of 4.45, a P/E/G ratio of 0.05 and a beta of 2.63. The business’s 50-day moving average price is C$60.69 and its 200 day moving average price is C$59.30. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.51 and a current ratio of 0.52.

Ovintiv Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Friday, March 14th. Ovintiv’s dividend payout ratio is 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.