Ovintiv (OVV) to Release Quarterly Earnings on Tuesday

Ovintiv (NYSE:OVV) is scheduled to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Ovintiv to post earnings of $1.40 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

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

Ovintiv Stock Performance

Ovintiv stock opened at $51.54 on Monday. The business has a 50 day moving average of $51.59 and a 200-day moving average of $46.68. The company has a market capitalization of $13.86 billion, a P/E ratio of 6.53 and a beta of 2.65. Ovintiv has a 1 year low of $32.07 and a 1 year high of $55.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.60 and a quick ratio of 0.60.

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 issued a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.33%. Ovintiv’s payout ratio is 15.21%.

Wall Street Analysts Forecast Growth

OVV has been the subject of several recent analyst reports. Barclays began coverage on shares of Ovintiv in a research report on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price objective for the company. Wells Fargo & Company dropped their price objective on Ovintiv from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. Citigroup raised their target price on Ovintiv from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Mizuho reissued a “buy” rating and issued a $58.00 price target on shares of Ovintiv in a research note on Thursday, April 4th. Finally, UBS Group raised their price objective on shares of Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.71.

Insider Activity

In other news, EVP Renee Ellen Zemljak sold 76,264 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $50.96, for a total value of $3,886,413.44. Following the completion of the sale, the executive vice president now owns 23,672 shares in the company, valued at $1,206,325.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Rachel Maureen Moore sold 9,300 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $50.65, for a total transaction of $471,045.00. Following the completion of the sale, the executive vice president now owns 52,557 shares in the company, valued at $2,662,012.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Renee Ellen Zemljak sold 76,264 shares of Ovintiv stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 23,672 shares in the company, valued at approximately $1,206,325.12. The disclosure for this sale can be found here. Insiders have sold 91,564 shares of company stock worth $4,660,818 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

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.