Ovintiv (OVV) Set to Announce Quarterly Earnings on Tuesday

Ovintiv (TSE:OVV) is set to announce 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 announced its quarterly earnings data on Tuesday, February 27th. The company reported C$3.20 earnings per share for the quarter, beating the consensus estimate of C$2.61 by C$0.59. The business had revenue of C$4.31 billion during the quarter, compared to analyst estimates of C$3.69 billion. Ovintiv had a return on equity of 23.09% and a net margin of 19.56%.

Ovintiv Trading Up 0.4 %

Shares of Ovintiv stock opened at C$73.09 on Tuesday. 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 firm has a market cap of C$19.66 billion, a price-to-earnings ratio of 6.81, a price-to-earnings-growth ratio of 0.05 and a beta of 2.67. The business has a fifty day simple moving average of C$69.54 and a 200-day simple moving average of C$63.28. Ovintiv has a fifty-two week low of C$43.23 and a fifty-two week high of C$76.63.

Ovintiv Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 28th were issued a $0.403 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.61 annualized dividend and a dividend yield of 2.21%. Ovintiv’s dividend payout ratio (DPR) is 15.08%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OVV shares. National Bankshares upped their price objective on Ovintiv from C$59.00 to C$68.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Royal Bank of Canada boosted their target price on 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.

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.