Capital One Financial Boosts Earnings Estimates for Ovintiv

Ovintiv Inc. (TSE:OVV - Free Report) - Capital One Financial increased their Q4 2024 earnings estimates for Ovintiv in a report issued 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, up from their previous estimate of $1.44. The consensus estimate for Ovintiv's current full-year earnings is $5.66 per share. Capital One Financial also issued estimates for Ovintiv's Q1 2025 earnings at $1.37 EPS, Q2 2025 earnings at $1.44 EPS, Q3 2025 earnings at $1.50 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $5.89 EPS and FY2026 earnings at $7.19 EPS.

Several other analysts have also recently issued reports on the company. Evercore ISI raised Ovintiv from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 10th. Wolfe Research upgraded shares of Ovintiv to a "strong-buy" rating in a research report on Thursday, July 18th. Finally, Siebert Williams Shank upgraded shares of Ovintiv to a "strong-buy" rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Ovintiv presently has a consensus rating of "Buy" and a consensus target price of C$58.50.

Ovintiv Price Performance

Shares of OVV stock traded up C$0.47 during trading hours on Thursday, hitting C$56.99. The stock had a trading volume of 94,216 shares, compared to its average volume of 120,916. The stock's 50-day moving average price is C$56.47 and its two-hundred day moving average price is C$63.53. Ovintiv has a one year low of C$49.74 and a one year high of C$76.63. The stock has a market capitalization of C$15.02 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 0.05 and a beta of 2.63. 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 announced its quarterly 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. Ovintiv had a net margin of 18.84% and a return on equity of 19.75%. The business had revenue of C$3.13 billion for the quarter, compared to analysts' expectations of C$3.46 billion.

Ovintiv Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, September 13th. Ovintiv's dividend 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.