Ovintiv (TSE:OVV) Issues Earnings Results

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

Ovintiv Trading Down 1.6%

TSE OVV opened at C$79.59 on Wednesday. The business’s 50-day moving average price is C$78.05 and its two-hundred day moving average price is C$64.34. Ovintiv has a 12 month low of C$48.41 and a 12 month high of C$86.86. The firm has a market capitalization of C$22.55 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.05 and a beta of 0.58. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 67.25.

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Ovintiv Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OVV. Scotiabank upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Stephens upgraded Ovintiv to a “hold” rating in a research note on Tuesday, February 3rd. TD Cowen upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, February 9th. Truist Financial upgraded Ovintiv to a “strong-buy” rating in a research note on Monday, March 23rd. Finally, Citigroup lowered Ovintiv from a “strong-buy” rating to a “hold” rating in a research note on Sunday, March 29th. Five investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ovintiv presently has a consensus rating of “Buy”.

View Our Latest Research Report on Ovintiv

Ovintiv Company Profile

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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.

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