Ovintiv (OVV) to Release Earnings on Tuesday

Ovintiv (NYSE:OVV) is set to issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $1.40 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Ovintiv (NYSE:OVV) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.41. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.75 billion. Ovintiv had a return on equity of 19.50% and a net margin of 19.16%. On average, analysts expect Ovintiv to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Ovintiv Trading Up 0.9 %

Ovintiv stock opened at $51.54 on Friday. The stock has a 50-day moving average price of $51.59 and a 200 day moving average price of $46.74. Ovintiv has a 52 week low of $32.07 and a 52 week high of $55.95. The stock has a market cap of $13.86 billion, a PE ratio of 6.53 and a beta of 2.65. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.33%. Ovintiv’s dividend payout ratio is currently 15.21%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OVV. Wells Fargo & Company decreased their target price on shares of Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. UBS Group raised their price objective on Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Mizuho reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Ovintiv in a research report on Thursday, April 4th. Royal Bank of Canada increased their target price on Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. Finally, Morgan Stanley lifted their price target on Ovintiv from $49.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Insider Activity

In other Ovintiv news, Director Howard John Mayson sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.56, for a total value of $303,360.00. Following the transaction, the director now directly owns 36,840 shares of the company’s stock, valued at $1,862,630.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Howard John Mayson sold 6,000 shares of Ovintiv stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $50.56, for a total transaction of $303,360.00. Following the sale, the director now owns 36,840 shares in the company, valued at $1,862,630.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $50.96, for a total transaction of $3,886,413.44. Following the transaction, the executive vice president now directly owns 23,672 shares in the company, valued at $1,206,325.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,564 shares of company stock valued at $4,660,818. Company insiders own 1.70% of the company’s stock.

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.