Ovintiv announced on February 27, 2023 that its board of directors declared a permanent quarterly dividend of $0.25 per share ($1.00 per share). Shareholders of record on March 15, 2023 will receive payment on March 31, 2023. Previously, the company paid $0.25 per share.
At the current stock price of $42.77/share, the stock has a dividend yield of 2.34%. Looking back five years and sampling each week, the average dividend yield was 5.00%, with a low of 1.44% and a high of 45.05%. The standard deviation of the income is 6.09 (n=237).
The current dividend yield is 0.44 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.07. The payout ratio shows how much of a company’s earnings is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s earnings are paid out as dividends. A payout ratio above one means that the company is dipping into its savings to maintain the dividend, which is not a healthy situation. Companies with little growth prospects should pay out most of their earnings in the form of dividends, which usually means a payout ratio of between 0.5 and 1.0. Companies with good growth prospects must retain a portion of their profits to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analysts forecast a 57.72% increase in prices
As of March 1, 2023, the one-year average price target for Ovintiv was $67.46. The forecast ranged from a low of $51.51 to a high of $86.10. The average target price is a 57.72% increase from the last reported close price of $42.77.
Ovintiv’s estimated annual revenue is $12,780 million. Estimated annual EPS is $15.19.
What is stock sentiment?
Ovintiv has 1,078 funds or institutions reporting positions. This is an increase of 97 owners or 9.89% in the last quarter. Average portfolio weight from all funds OVV decreased by 0.30%, 15.40%. The total number of shares owned by institutions increased by 5.40% over the past three months to 243,017,000 shares. OVV’s put/call ratio is 0.53, indicating the outlook is bullish.
What are the major shareholders doing?
Dodge & Cox owns 21,655,000 shares representing 8.72% of the company. In a previous filing, the company said it owned 22,145,000 shares.
decrease
2.26%. Company
decreases
2.44% allocation of its portfolio in OVV in the last quarter.
DODFX – Dodge & Cox International Fund has 11,500,000 shares representing 4.63% of the company. There was no change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor has 7,603,000 shares representing 3.06% of the company. In a previous filing, the company said it owned 7,593,000 shares
raise
by 0.13%. Company
increase
8.65% allocation of its portfolio in OVV in the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor has 6,456,000 shares representing 2.60% of the company. In a previous filing, the company said it owned 6,515,000 shares
decrease
by 0.91%. Company
increase
7.57% allocation of its portfolio in OVV in the last quarter.
Hotchkis & Wiley Capital Management owns 5,236,000 shares representing 2.11% of the company. In a previous filing, the company said it owned 3,227,000 shares
raise
38.38%. Company
increase
In the last quarter, its portfolio allocation to OVV was 59.84%.
General information about Ovintiv
(This description is provided by the company.)
Ovintiv Inc. — Delaware-based hydrocarbon exploration and production company located in Denver, USA. It was founded and founded in Calgary, Alberta under the former name of Encana.
This story originally appeared on Fintel.
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