Q3 2024 EPS Estimates for Ovintiv Inc. Cut by Analyst (TSE:OVV)

Ovintiv Inc. (TSE:OVV - Free Report) - Equities researchers at Capital One Financial reduced their Q3 2024 earnings per share (EPS) estimates for shares of Ovintiv in a note issued to investors on Monday, October 14th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $1.49 per share for the quarter, down from their previous estimate of $1.60. The consensus estimate for Ovintiv's current full-year earnings is $5.66 per share. Capital One Financial also issued estimates for Ovintiv's FY2024 earnings at $6.65 EPS.

Several other research firms have also recently commented on OVV. Wolfe Research upgraded shares of Ovintiv to a "strong-buy" rating in a report on Thursday, July 18th. Evercore ISI raised Ovintiv from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 10th.

Ovintiv Stock Down 0.2 %

Shares of OVV stock traded down C$0.09 during trading hours on Wednesday, reaching C$56.52. 75,073 shares of the stock were exchanged, compared to its average volume of 121,049. The business's fifty day moving average is C$56.47 and its two-hundred day moving average is C$63.53. The firm has a market capitalization of C$14.90 billion, a P/E ratio of 5.79, a P/E/G 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. The company has a debt-to-equity ratio of 67.70, a current ratio of 0.44 and a quick ratio of 0.51.

Ovintiv (TSE:OVV - Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported C$1.69 EPS for the quarter, topping the consensus estimate of C$1.67 by C$0.02. The firm had revenue of C$3.13 billion during the quarter, compared to analysts' expectations of C$3.46 billion. Ovintiv had a return on equity of 19.75% and a net margin of 18.84%.

Ovintiv Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Friday, September 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.