A busy week likes ahead for executives of more major oil and gas companies as they prepare to release their fourth quarter earnings report.
Reports will be released Wednesday and Thursday by ONE Gas, Ovintiv, Inc., Laredo Petroleum and Marathon Oil. They are considered to be major players in Oklahoma’s oil and gas operations.
ONE Gas, Inc. will release its fourth quarter and full-year 2020 financial results after the market closes on Wednesday, Feb. 17. A conference call will be held Thursday at 10 a.m. Central Standard Time by the company’s executive management team.
The company’s board of directors recently approved an increased dividend for the first quarter 2021 by 4 cents a share to 58 cents which resulted in an annualized dividend of $2.32 per share.
In November when the results of the last quarter were announced, ONEGas reported net income of $21.1 million or 39 cents a diluted share, up from the $17.5 million a year earlier.
Ovintiv Inc. based in Denver will hold its 2020 fourth quarter and year-end results conference call at 9 a.m. MT, on February 18, 2021. The report will be released after the close of market on Wednesday.
Ovtintiv had a third quarter 2020 net loss of $1.5 billion or $5.85 per share of common stock. Despite the loss, President and CEO Doug Suttles called it “strong results” as the company delivered $47 million in free cash flow and net debt reduction of $217 million.
Tulsa-based Laredo Petroleum will release its fourth quarter 2020 financial results like the others, after the close of Wednesday’s market. A conference call will be held Thursday morning at 7:30 Central Time.
The firm reported $237.4 million third quarter net loss or $20.32 per diluted share. Its adjusted net income was $47 million or $4.02 per adjusted diluted share.
Marathon Oil in Houston will release its fourth quarter and 2020 earnings report after the close of U.S. financial markets on Wednesday. The conference call will be held Thursday at 8 a.m. Central Time.
The company is coming off a $317 million third quarter 2020 net loss or 40 cents per diluted share. Marathon’s adjusted net loss was $219 million or 28 cent per diluted shares.