Zacks Research Issues Positive Estimate for Ovintiv Earnings

Ovintiv Inc. (TSE:OVV) – Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Ovintiv in a report released on Thursday, January 16th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $7.87 per share for the year, up from their prior forecast of $7.81. The consensus estimate for Ovintiv’s current full-year earnings is $5.66 per share. Zacks Research also issued estimates for Ovintiv’s Q4 2024 earnings at $1.38 EPS, Q1 2025 earnings at $1.51 EPS, Q2 2025 earnings at $1.47 EPS, Q3 2025 earnings at $1.71 EPS, Q4 2025 earnings at $1.96 EPS, FY2025 earnings at $6.64 EPS, Q1 2026 earnings at $1.40 EPS, Q2 2026 earnings at $1.42 EPS, Q3 2026 earnings at $1.91 EPS, Q4 2026 earnings at $2.82 EPS and FY2026 earnings at $7.54 EPS.

Separately, Siebert Williams Shank raised shares of Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ovintiv presently has an average rating of “Buy” and a consensus price target of C$58.50.

Ovintiv Price Performance

TSE OVV opened at C$65.11 on Monday. The company has a market cap of C$17.16 billion, a PE ratio of 6.66, a P/E/G ratio of 0.05 and a beta of 2.63. The company has a debt-to-equity ratio of 67.70, a quick ratio of 0.51 and a current ratio of 0.44. Ovintiv has a 52-week low of C$49.74 and a 52-week high of C$76.63. The firm’s 50 day moving average price is C$60.43 and its 200-day moving average price is C$59.13.

Ovintiv (TSE:OVV) last issued its earnings results on Thursday, November 7th. The company reported C$2.52 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.49 by C$1.03. Ovintiv had a return on equity of 19.75% and a net margin of 18.84%. During the same quarter last year, the firm posted $2.33 earnings per share.

Ovintiv Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.406 per share. This represents a $1.62 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s payout ratio is 16.58%.

Ovintiv Company Profile

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.