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Ovintiv said on February 27, 2023 that its board of directors declared a regular
quarterly dividend of $0.25 per share ($1.00 annualized).
Shareholders of record as of March 15, 2023
will receive the payment on March 31, 2023.
Previously, the company paid $0.25 per share.
At the current share price of $42.77 / share,
the stock’s dividend yield is 2.34%.
Looking back five years and taking a sample every week, the average dividend yield has been
5.00%,
the lowest has been 1.44%,
and the highest has been 45.05%.
The standard deviation of yields 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 tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 57.72% Upside
As of March 1, 2023,
the average one-year price target for Ovintiv is $67.46.
The forecasts range from a low of $51.51 to a high of $86.10.
The average price target represents an increase of 57.72% from its latest reported closing price of $42.77.
The projected annual revenue for Ovintiv
is $12,780MM.
The projected annual EPS
is $15.19.
What is the Fund Sentiment?
There are 1078 funds or institutions reporting positions in Ovintiv.
This is an increase
of
97
owner(s) or 9.89% in the last quarter.
Average portfolio weight of all funds dedicated to OVV is 0.30%,
a decrease
of 15.40%.
Total shares owned by institutions increased
in the last three months by 5.40% to 243,017K shares.
The put/call ratio of OVV is 0.53, indicating a
bullish
outlook.
What are large shareholders doing?
Dodge & Cox
holds 21,655K shares
representing 8.72% ownership of the company.
In it’s prior filing, the firm reported owning 22,145K shares, representing
a decrease
of 2.26%.
The firm
decreased
its portfolio allocation in OVV by 2.44% over the last quarter.
DODFX – Dodge & Cox International Stock Fund
holds 11,500K shares
representing 4.63% ownership of the company.
No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 7,603K shares
representing 3.06% ownership of the company.
In it’s prior filing, the firm reported owning 7,593K shares, representing
an increase
of 0.13%.
The firm
increased
its portfolio allocation in OVV by 8.65% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares
holds 6,456K shares
representing 2.60% ownership of the company.
In it’s prior filing, the firm reported owning 6,515K shares, representing
a decrease
of 0.91%.
The firm
increased
its portfolio allocation in OVV by 7.57% over the last quarter.
Hotchkis & Wiley Capital Management
holds 5,236K shares
representing 2.11% ownership of the company.
In it’s prior filing, the firm reported owning 3,227K shares, representing
an increase
of 38.38%.
The firm
increased
its portfolio allocation in OVV by 59.84% over the last quarter.
Ovintiv Background Information
(This description is provided by the company.)
Ovintiv Inc. is a hydrocarbon exploration and production company organized in Delaware and headquartered in Denver, United States. It was founded and headquartered in Calgary, Alberta, under its previous name Encana.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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