Ovintiv Inc. (TSE:OVV - Free Report) - Stock analysts at Zacks Research cut their Q3 2024 EPS estimates for shares of Ovintiv in a research note issued to investors on Tuesday, October 22nd. Zacks Research analyst R. Department now anticipates that the company will earn $1.36 per share for the quarter, down from their prior estimate of $1.52. The consensus estimate for Ovintiv's current full-year earnings is $5.66 per share. Zacks Research also issued estimates for Ovintiv's Q4 2024 earnings at $1.24 EPS, FY2024 earnings at $6.28 EPS and Q3 2026 earnings at $1.48 EPS.
A number of other research firms have also commented on OVV. Siebert Williams Shank raised shares of Ovintiv to a "strong-buy" rating in a research note on Tuesday, October 15th. Evercore ISI upgraded shares of Ovintiv from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 10th. Finally, Wolfe Research upgraded shares of Ovintiv to a "strong-buy" rating in a research report on Thursday, July 18th. One investment 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 company. Based on data from MarketBeat.com, Ovintiv presently has a consensus rating of "Buy" and an average target price of C$58.50.
Get Our Latest Stock Report on Ovintiv
Ovintiv Trading Up 1.7 %
Shares of TSE:OVV traded up C$0.96 during trading on Friday, reaching C$56.12. The stock had a trading volume of 117,463 shares, compared to its average volume of 121,333. The firm's fifty day moving average is C$56.23 and its 200 day moving average is C$62.83. The company has a debt-to-equity ratio of 67.70, a quick ratio of 0.51 and a current ratio of 0.44. Ovintiv has a 52 week low of C$49.74 and a 52 week high of C$76.63. The stock has a market cap of C$14.79 billion, a price-to-earnings ratio of 5.73, a P/E/G ratio of 0.05 and a beta of 2.63.
Ovintiv (TSE:OVV - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.69 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of C$3.13 billion for the quarter, compared to analyst estimates of C$3.46 billion.
Ovintiv Cuts Dividend
The firm 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. The ex-dividend date was Friday, September 13th. This represents a $1.64 annualized dividend and a yield of 2.92%. Ovintiv's payout ratio is 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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