Zacks Research Estimates Ovintiv's FY2024 Earnings (TSE:OVV)

Ovintiv Inc. (TSE:OVV - Free Report) - Investment analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of Ovintiv in a note issued to investors on Thursday, January 9th. Zacks Research analyst R. Department now expects that the company will earn $7.81 per share for the year, up from their prior forecast of $7.78. The consensus estimate for Ovintiv's current full-year earnings is $5.66 per share. Zacks Research also issued estimates for Ovintiv's Q1 2025 earnings at $1.47 EPS, Q2 2025 earnings at $1.44 EPS, Q3 2025 earnings at $1.67 EPS, Q4 2025 earnings at $1.90 EPS, FY2025 earnings at $6.48 EPS, Q1 2026 earnings at $1.27 EPS, Q2 2026 earnings at $1.34 EPS, Q3 2026 earnings at $1.84 EPS, Q4 2026 earnings at $2.65 EPS and FY2026 earnings at $7.10 EPS.

Separately, Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Ovintiv currently has an average rating of "Buy" and a consensus target price of C$58.50.

Ovintiv Stock Performance

OVV stock traded up C$2.31 during trading on Friday, reaching C$62.95. 256,880 shares of the company's stock were exchanged, compared to its average volume of 137,276. Ovintiv has a 1-year low of C$49.74 and a 1-year high of C$76.63. The firm has a market cap of C$16.59 billion, a PE ratio of 6.44, a P/E/G ratio of 0.05 and a beta of 2.63. The company's fifty day moving average price is C$59.51 and its 200-day moving average price is C$59.06. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 67.70.

Ovintiv Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv's payout ratio is currently 16.58%.

About Ovintiv

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.