Earnings Report: Here’s what to expect from Ovintiv (NYSE:OVV)

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Earnings results for Ovintiv (NYSE:OVV)

Ovintiv Inc. is expected* to report earnings on 07/27/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.05. The reported EPS for the same quarter last year was $-0.43.

Ovintiv last posted its quarterly earnings results on April 28th, 2021. The reported $1.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.10. The company earned $1.84 billion during the quarter, compared to analyst estimates of $1.65 billion. Ovintiv has generated $0.35 earnings per share over the last year. Ovintiv has confirmed that its next quarterly earnings report will be published on Tuesday, July 27th, 2021. Ovintiv will be holding an earnings conference call on Wednesday, July 28th at 9:30 AM Eastern. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Ovintiv (NYSE:OVV)

20 Wall Street analysts have issued ratings and price targets for Ovintiv in the last 12 months. Their average twelve-month price target is $32.18, predicting that the stock has a possible upside of 13.97%. The high price target for OVV is $44.00 and the low price target for OVV is $16.50. There are currently 4 hold ratings and 16 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Ovintiv has received a consensus rating of Buy. The company’s average rating score is 2.79, and is based on 15 buy ratings, 4 hold ratings, and no sell ratings. According to analysts’ consensus price target of $31.87, Ovintiv has a forecasted upside of 12.9% from its current price of $28.23. Ovintiv has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Ovintiv (NYSE:OVV)

Ovintiv has a dividend yield of 1.37%, which is in the bottom 25% of all stocks that pay dividends. Ovintiv has only been increasing its dividend for 1 years. The dividend payout ratio of Ovintiv is 108.57%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, Ovintiv will have a dividend payout ratio of 8.12% next year. This indicates that Ovintiv will be able to sustain or increase its dividend.

Insiders buying/selling: Ovintiv (NYSE:OVV)

In the past three months, Ovintiv insiders have bought more of their company’s stock than they have sold. Specifically, they have bought $126,200.00 in company stock and sold $0.00 in company stock. Only 1.70% of the stock of Ovintiv is held by insiders. 68.94% of the stock of Ovintiv is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Ovintiv (NYSE:OVV

Earnings for Ovintiv are expected to grow by 15.27% in the coming year, from $4.06 to $4.68 per share. The P/E ratio of Ovintiv is -1.18, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Ovintiv is -1.18, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Ovintiv has a P/B Ratio of 1.91. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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