Capital One Financial Raises Earnings Estimates for Ovintiv

Ovintiv Inc. (NYSE:OVV - Free Report) - Analysts at Capital One Financial raised their Q4 2024 EPS estimates for Ovintiv in a research report issued on Monday, October 14th. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $1.08 per share for the quarter, up from their previous forecast of $1.06. The consensus estimate for Ovintiv's current full-year earnings is $4.90 per share. Capital One Financial also issued estimates for Ovintiv's Q1 2025 earnings at $0.99 EPS, Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $1.09 EPS, Q4 2025 earnings at $1.14 EPS, FY2025 earnings at $4.27 EPS and FY2026 earnings at $5.21 EPS.

Ovintiv (NYSE:OVV - Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.53 billion. Ovintiv had a return on equity of 18.28% and a net margin of 18.56%.

A number of other equities analysts have also recently weighed in on OVV. Siebert Williams Shank raised shares of Ovintiv to a "strong-buy" rating in a research note on Tuesday. Evercore ISI dropped their target price on shares of Ovintiv from $60.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, September 30th. Mizuho reduced their price target on shares of Ovintiv from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Wednesday, October 9th. Morgan Stanley lowered their price target on Ovintiv from $53.00 to $51.00 and set an "equal weight" rating on the stock in a report on Monday, September 16th. Finally, Truist Financial dropped their price objective on Ovintiv from $62.00 to $47.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $57.00.

Ovintiv Price Performance

OVV stock traded up $0.21 on Thursday, reaching $41.31. 1,424,987 shares of the company's stock were exchanged, compared to its average volume of 3,114,203. The stock has a fifty day moving average of $41.47 and a 200-day moving average of $46.36. The firm has a market cap of $11.03 billion, a PE ratio of 5.74, a P/E/G ratio of 8.02 and a beta of 2.61. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.47. Ovintiv has a twelve month low of $36.90 and a twelve month high of $55.95.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.30 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 2.90%. Ovintiv's dividend payout ratio (DPR) is presently 16.76%.

Hedge Funds Weigh In On Ovintiv

Several large investors have recently added to or reduced their stakes in OVV. American National Bank purchased a new position in Ovintiv during the first quarter worth approximately $27,000. Innealta Capital LLC purchased a new position in shares of Ovintiv in the 2nd quarter worth $39,000. Geneos Wealth Management Inc. boosted its holdings in Ovintiv by 53.4% in the first quarter. Geneos Wealth Management Inc. now owns 862 shares of the company's stock valued at $45,000 after acquiring an additional 300 shares during the last quarter. UMB Bank n.a. grew its position in Ovintiv by 27.7% during the third quarter. UMB Bank n.a. now owns 1,317 shares of the company's stock valued at $50,000 after acquiring an additional 286 shares during the period. Finally, Atlas Capital Advisors LLC purchased a new stake in Ovintiv during the first quarter valued at about $74,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

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.