Ovintiv (OVV) to Release Quarterly Earnings on Tuesday

Ovintiv (TSE:OVV) is scheduled to issue its quarterly earnings data 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 earnings results 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 company had revenue of C$4.31 billion during the quarter, compared to the consensus estimate 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 OVV opened at C$70.44 on Monday. The company’s 50-day simple moving average is C$70.21 and its 200-day simple moving average is C$63.31. The company has a debt-to-equity ratio of 64.45, a quick ratio of 0.51 and a current ratio of 0.60. Ovintiv has a 1 year low of C$43.23 and a 1 year high of C$76.63. The stock has a market capitalization of C$18.94 billion, a PE ratio of 6.52, a P/E/G ratio of 0.05 and a beta of 2.69.

Ovintiv Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were given a $0.403 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.61 annualized dividend and a yield of 2.29%. Ovintiv’s dividend payout ratio is presently 15.09%.

Analyst Ratings Changes

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

About Ovintiv

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.