Capital One Financial Boosts Earnings Estimates for Ovintiv

Ovintiv Inc. (TSE:OVV - Free Report) - Equities researchers at Capital One Financial upped their FY2024 earnings per share estimates for shares of Ovintiv in a research report issued on Tuesday, January 14th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $8.00 per share for the year, up from their prior estimate of $7.93. 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 $1.52 EPS, Q2 2025 earnings at $2.21 EPS, Q3 2025 earnings at $2.34 EPS, Q4 2025 earnings at $2.43 EPS and FY2026 earnings at $10.07 EPS.

Separately, Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a report 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. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$58.50.

Ovintiv Trading Up 0.9 %

OVV stock traded up C$0.59 during mid-day trading on Thursday, hitting C$66.09. 140,882 shares of the company were exchanged, compared to its average volume of 158,273. Ovintiv has a 12-month low of C$49.74 and a 12-month high of C$76.63. The firm has a market capitalization of C$17.42 billion, a P/E ratio of 6.76, a PEG ratio of 0.05 and a beta of 2.63. The business has a fifty day simple moving average of C$60.01 and a 200-day simple moving average of C$59.08. 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 firm 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. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 2.46%. Ovintiv's dividend payout ratio (DPR) is presently 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.