Ovintiv (OVV) to Release Quarterly Earnings on Tuesday

Ovintiv (NYSE:OVV) will 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. Individual that wish to register for the company’s earnings conference call can do so using this link.

Ovintiv (NYSE:OVV) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.41. Ovintiv had a net margin of 19.16% and a return on equity of 19.50%. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations 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 Trading Up 0.9 %

Shares of OVV stock opened at $51.54 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.53. Ovintiv has a 12-month low of $32.07 and a 12-month high of $55.95. The stock has a market capitalization of $13.86 billion, a P/E ratio of 6.53 and a beta of 2.65. The firm’s 50 day moving average is $51.59 and its 200 day moving average is $46.68.

Ovintiv Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.33%. Ovintiv’s dividend payout ratio (DPR) is currently 15.21%.

Insider Buying and Selling at Ovintiv

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

Analyst Ratings Changes

Several brokerages have issued reports on OVV. UBS Group raised their target price on Ovintiv from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price objective on shares of Ovintiv from $49.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. The Goldman Sachs Group upped their target price on shares of Ovintiv from $47.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Scotiabank dropped their price target on shares of Ovintiv from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada upped their price objective on Ovintiv from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Ovintiv presently has an average rating of “Moderate Buy” and a consensus target price of $56.71.

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.