OVV
Ovintiv: Q2 Earnings Snapshot
Article Summary
HOLD- Ovintiv Inc. (OVV) reported second-quarter net income of $456 million on Thursday, with earnings adjusted for non-recurring costs of $1.74 per share, slightly below expectations.
- The Denver-based energy company posted revenue of $3.01 billion, beating expectations of $2.35 billion, but falling short of the average Zacks estimate.
- Revenue growth was driven by strong demand for energy-efficient energy systems and recurring revenue tied to energy efficiency initiatives.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | -0.6% | 25% | 0.0 ptsDeclining (-0.6%) - NOT a growth stock |
| EPS Growth Next 5Y ? | 17.9% | 25% | 50.0 ptsMeets Minimum (17.9%) - Passes screener |
| Target Price Upside ? | 15.5% | 20% | 60.0 ptsModerate Upside (15.5%) - Target: $70.88 vs Current: $61.39 |
| Gross Margin % ? | 29.7% | 15% | 40.0 ptsModerate (29.7%) - Adequate margins |
| Drawdown from 52-Wk High ? | -3.3% | 15% | 20.0 ptsBarely a Dip (-3.3%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About OVV
- Ovintiv Inc., together with its subsidiaries, operates as an oil and natural gas exploration and production company in North America.
- The company operates through USA Operations and Canadian Operations segments.
- It is involved in the exploration, development, production, and marketing of oil, NGLs, natural gas and other related activities in the Permian in West Texas and Anadarko in West-central Oklahoma in the United States, as well as in northwest Alberta and northeast British Columbia.
- The company was formerly known as Encana Corporation and changed its name to Ovintiv Inc. in January 2020.
- Ovintiv Inc. was incorporated in 2020 and is based in Denver, Colorado.