Ovintiv (OVV) Set to Announce Quarterly Earnings on Thursday

Ovintiv (NYSE:OVV - Get Free Report) will be releasing its earnings data after the market closes on Thursday, November 7th. Analysts expect Ovintiv to post earnings of $1.10 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Ovintiv (NYSE:OVV - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. Ovintiv had a return on equity of 18.28% and a net margin of 18.56%. The business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.53 billion. On average, analysts expect Ovintiv to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Ovintiv Stock Performance

Shares of OVV traded down $0.09 during midday trading on Thursday, hitting $39.20. 1,661,646 shares of the stock traded hands, compared to its average volume of 3,068,594. The business's 50 day moving average price is $40.89 and its two-hundred day moving average price is $45.35. The firm has a market capitalization of $10.33 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 7.81 and a beta of 2.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. Ovintiv has a 1-year low of $36.90 and a 1-year high of $55.95.

Wall Street Analysts Forecast Growth

OVV has been the topic of several analyst reports. Mizuho dropped their price target on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada lowered their target price on Ovintiv from $62.00 to $61.00 and set a "sector perform" rating on the stock in a research report on Thursday, August 1st. Truist Financial reduced their price target on Ovintiv from $62.00 to $47.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Siebert Williams Shank raised Ovintiv to a "strong-buy" rating in a report on Tuesday, October 15th. Finally, Morgan Stanley reduced their price objective on shares of Ovintiv from $53.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.00.

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.