Ovintiv (OVV) Set to Announce Quarterly Earnings on Tuesday

Ovintiv (TSE:OVV) will be issuing 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 announced its 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. 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 Performance

TSE:OVV opened at C$70.44 on Friday. 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’s fifty day simple moving average is C$70.21 and its 200 day simple moving average is C$63.40. The stock has a market cap of C$18.94 billion, a P/E ratio of 6.52, a price-to-earnings-growth ratio of 0.05 and a beta of 2.69. Ovintiv has a twelve month low of C$43.23 and a twelve month high of C$76.63.

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 $0.403 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.61 annualized dividend and a dividend yield of 2.29%. Ovintiv’s dividend payout ratio is 15.09%.

Wall Street Analyst Weigh In

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