Ovintiv (OVV) Set to Announce Earnings on Tuesday

Ovintiv (TSE: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 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 EPS for the quarter, beating analysts’ consensus estimates of C$2.61 by C$0.59. Ovintiv had a return on equity of 23.09% and a net margin of 19.56%. The firm had revenue of C$4.31 billion for the quarter, compared to analyst estimates of C$3.69 billion.

Ovintiv Price Performance

Shares of OVV opened at C$70.44 on Friday. The business has a 50-day moving average of C$70.21 and a 200-day moving average of C$63.40. The company has a debt-to-equity ratio of 64.45, a current ratio of 0.60 and a quick ratio of 0.51. The company has a market capitalization 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 1 year low of C$43.23 and a 1 year 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 paid a $0.403 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, March 14th. Ovintiv’s dividend payout ratio is currently 15.09%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on OVV shares. National Bankshares boosted their price target 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. Royal Bank of Canada boosted their target price on shares of Ovintiv from C$48.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Thursday, February 29th.

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.