Ovintiv (OVV) to Release Earnings on Thursday

Ovintiv (TSE:OVV) is set to post its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Ovintiv to post earnings of C$1.49 per share for the quarter.

Ovintiv (TSE:OVV) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$1.69 EPS for the quarter, beating the consensus estimate of C$1.67 by C$0.02. The company had revenue of C$3.13 billion during the quarter, compared to analysts’ expectations of C$3.46 billion. Ovintiv had a net margin of 18.84% and a return on equity of 19.75%.

Ovintiv Price Performance

Shares of TSE:OVV opened at C$54.63 on Thursday. The company has a 50 day moving average of C$55.87 and a 200 day moving average of C$62.25. The stock has a market cap of C$14.40 billion, a P/E ratio of 5.59, a P/E/G ratio of 0.05 and a beta of 2.63. Ovintiv has a 12 month low of C$49.74 and a 12 month high of C$76.63. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 67.70.

Ovintiv Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a $0.41 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.64 dividend on an annualized basis and a yield of 3.00%. Ovintiv’s dividend payout ratio is presently 16.58%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OVV shares. Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. Wolfe Research raised shares of Ovintiv to a “strong-buy” rating in a research note on Thursday, July 18th. Finally, Evercore ISI raised shares of Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$58.50.

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.