Ovintiv (OVV) Set to Announce Quarterly Earnings on Tuesday

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

Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, February 27th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates 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

Shares of Ovintiv stock opened at $53.51 on Tuesday. Ovintiv has a fifty-two week low of $32.07 and a fifty-two week 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. The firm has a market capitalization of $14.39 billion, a P/E ratio of 6.78 and a beta of 2.65. The company’s 50 day moving average price is $51.16 and its two-hundred day moving average price is $46.66.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s payout ratio is currently 15.21%.

Analyst Ratings Changes

Several research firms have recently issued reports on OVV. UBS Group raised their price target on shares of Ovintiv from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Wells Fargo & Company dropped their price target on shares of Ovintiv from $46.00 to $44.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. The Goldman Sachs Group raised their price target on shares of Ovintiv from $47.00 to $56.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Barclays started coverage on shares of Ovintiv in a research note on Wednesday, April 10th. They set an “overweight” rating and a $69.00 price target for the company. Finally, Mizuho reissued a “buy” rating and set a $58.00 target price on shares of Ovintiv in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.71.

Insiders Place Their Bets

In other Ovintiv news, EVP Renee Ellen Zemljak sold 76,264 shares of the firm’s stock in a transaction on 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 directly owns 23,672 shares in the company, valued at $1,206,325.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Rachel Maureen Moore sold 9,300 shares of the business’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 directly owns 52,557 shares of the company’s stock, valued at $2,662,012.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Renee Ellen Zemljak sold 76,264 shares of the business’s 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 sale, the executive vice president now directly owns 23,672 shares of the company’s stock, valued at $1,206,325.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,564 shares of company stock worth $4,660,818. 0.97% of the stock is currently owned by company 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.