Ovintiv (TSE:OVV) Releases Quarterly Earnings Results

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

Ovintiv Trading Up 2.2%

OVV traded up C$1.77 during trading on Monday, hitting C$80.87. 167,531 shares of the stock were exchanged, compared to its average volume of 333,835. The firm has a 50 day simple moving average of C$77.34 and a 200 day simple moving average of C$63.72. The firm has a market cap of C$22.91 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 0.05 and a beta of 0.58. Ovintiv has a 1 year low of C$48.41 and a 1 year high of C$86.86. The company has a debt-to-equity ratio of 67.25, a quick ratio of 0.51 and a current ratio of 0.54.

Ovintiv Dividend Announcement

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

Wall Street Analyst Weigh In

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

Ovintiv Company Profile

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.