Ovintiv Inc. (TSE:OVV - Free Report) - Investment analysts at Capital One Financial dropped their FY2024 earnings estimates for shares of Ovintiv in a report released on Monday, November 18th. Capital One Financial analyst P. Johnston now expects that the company will earn $7.69 per share for the year, down from their prior forecast of $7.78. The consensus estimate for Ovintiv's current full-year earnings is $5.66 per share. Capital One Financial also issued estimates for Ovintiv's Q4 2024 earnings at $1.37 EPS, FY2025 earnings at $6.43 EPS and FY2026 earnings at $8.19 EPS.
Separately, Siebert Williams Shank upgraded Ovintiv to a "strong-buy" rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of C$58.50.
Read Our Latest Stock Analysis on OVV
Ovintiv Stock Performance
OVV stock traded up C$1.23 on Wednesday, reaching C$63.57. 120,252 shares of the company were exchanged, compared to its average volume of 124,944. The stock's fifty day moving average price is C$56.25 and its 200 day moving average price is C$60.95. The company has a debt-to-equity ratio of 67.70, a current ratio of 0.44 and a quick ratio of 0.51. The firm has a market capitalization of C$16.76 billion, a PE ratio of 6.38, a PEG ratio of 0.05 and a beta of 2.63. Ovintiv has a 12 month low of C$49.74 and a 12 month high of C$76.63.
Ovintiv Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.406 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.55%. Ovintiv's dividend payout ratio (DPR) is currently 16.58%.
About Ovintiv
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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.
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