Ovintiv (TSE:OVV) Hits New 12-Month Low – Time to Sell?

Ovintiv Inc. (TSE:OVV) hit 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. The stock had previously closed at C$55.00.

Analyst Ratings Changes

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

Ovintiv Stock Down 14.7 %

The stock has a 50 day moving average price of C$60.34 and a 200 day moving average price of C$59.26. The company has a quick ratio of 0.51, a current ratio of 0.52 and a debt-to-equity ratio of 63.59. The stock has a market capitalization of C$8.53 billion, a price-to-earnings ratio of 4.30, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63.

Ovintiv Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Friday, March 14th. Ovintiv’s 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.