Earnings results for Ovintiv (NYSE:OVV)
Ovintiv last released its earnings results on July 27th, 2021. The reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.36. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.81 billion. Ovintiv has generated $0.35 earnings per share over the last year (($7.84) diluted earnings per share). Earnings for Ovintiv are expected to grow by 31.51% in the coming year, from $4.76 to $6.26 per share. Ovintiv has confirmed that its next quarterly earnings report will be published on Tuesday, November 2nd, 2021. Ovintiv will be holding an earnings conference call on Wednesday, November 3rd at 11:00 AM Eastern. Interested parties can .
Analyst Opinion on Ovintiv (NYSE:OVV)
According to the issued ratings of 24 analysts in the last year, the consensus rating for Ovintiv stock is Buy based on the current 4 hold ratings and 20 buy ratings for OVV. The average twelve-month price target for Ovintiv is $35.15 with a high price target of $54.00 and a low price target of $16.50.
Ovintiv has received a consensus rating of Buy. The company’s average rating score is 2.83, and is based on 20 buy ratings, 4 hold ratings, and no sell ratings. According to analysts’ consensus price target of $35.15, Ovintiv has a forecasted downside of 6.3% from its current price of $37.52. Ovintiv has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Ovintiv (NYSE:OVV)
Ovintiv pays a meaningful dividend of 1.46%, higher than the bottom 25% of all stocks that pay dividends. Ovintiv has only been increasing its dividend for 2 years. The dividend payout ratio of Ovintiv is 160.00%. 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 8.95% 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 $130,866.00 in company stock and sold $0.00 in company stock. Only 1.70% of the stock of Ovintiv is held by insiders. 70.06% 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 31.51% in the coming year, from $4.76 to $6.26 per share. The P/E ratio of Ovintiv is -4.79, 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 -4.79, 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 2.54. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
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