Ovintiv (TSE:OVV) Announces Quarterly Earnings Results

Ovintiv (TSE:OVV) issued its quarterly earnings data on Monday. The company reported C($3.27) earnings per share (EPS) for the quarter, FiscalAI reports. Ovintiv had a net margin of 14.13% and a return on equity of 11.86%. The business had revenue of C$3.52 billion during the quarter.

Ovintiv Stock Performance

Ovintiv stock opened at C$80.87 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 67.25. Ovintiv has a 1 year low of C$48.41 and a 1 year high of C$86.86. The company has a market cap of C$22.91 billion, a PE ratio of 16.92, a PEG ratio of 0.05 and a beta of 0.58. The company’s 50-day moving average is C$77.84 and its two-hundred day moving average is C$64.13.

Ovintiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, March 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. Ovintiv’s dividend payout ratio is presently 25.10%.

Analyst Ratings Changes

Several equities analysts have issued reports on OVV shares. TD Cowen upgraded Ovintiv to a “strong-buy” rating in a research report on Monday, February 9th. Stephens raised shares of Ovintiv to a “hold” rating in a report on Tuesday, February 3rd. Citigroup lowered shares of Ovintiv from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 29th. Scotiabank raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Truist Financial raised shares of Ovintiv to a “strong-buy” rating in a report on Monday, March 23rd. Five research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ovintiv has an average rating of “Buy”.

About Ovintiv

Ovintiv Inc is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the province of Alberta. Ovintiv’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Pipestone and Wapiti areas of the Alberta Deep Basin.