Ovintiv (OVV) to Release Quarterly Earnings on Tuesday

Ovintiv (TSE:OVV) is scheduled to be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of C$1.90 per share for the quarter.

Ovintiv (TSE:OVV) last released its quarterly earnings results on Tuesday, February 27th. The company reported C$3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.61 by C$0.59. The business had revenue of C$4.31 billion during the quarter, compared to analysts’ expectations of C$3.69 billion. Ovintiv had a return on equity of 23.09% and a net margin of 19.56%.

Ovintiv Stock Up 0.8 %

Shares of TSE OVV opened at C$70.44 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.60 and a debt-to-equity ratio of 64.45. The company has a market cap of C$18.94 billion, a price-to-earnings ratio of 6.52, a price-to-earnings-growth ratio of 0.05 and a beta of 2.69. Ovintiv has a 12-month low of C$43.23 and a 12-month high of C$76.63. The firm’s 50-day simple moving average is C$70.21 and its 200 day simple moving average is C$63.31.

Ovintiv Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were given a dividend of $0.403 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.29%. Ovintiv’s payout ratio is 15.09%.

Analysts Set New Price Targets

Several research analysts recently weighed in on OVV shares. Royal Bank of Canada boosted their price objective on shares of Ovintiv from C$48.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. National Bankshares lifted their target price on Ovintiv from C$59.00 to C$68.00 and gave the company an “outperform” rating in a research note on Friday, April 19th.

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.