Q2 2024 EPS Estimates for Ovintiv Inc. Lifted by Analyst (TSE:OVV)

Ovintiv Inc. (TSE:OVV) – Equities research analysts at Zacks Research lifted their Q2 2024 earnings per share estimates for shares of Ovintiv in a report issued on Wednesday, June 26th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $1.81 per share for the quarter, up from their previous estimate of $1.80. The consensus estimate for Ovintiv’s current full-year earnings is $8.57 per share. Zacks Research also issued estimates for Ovintiv’s Q3 2024 earnings at $2.12 EPS, Q4 2024 earnings at $2.22 EPS, FY2024 earnings at $8.11 EPS, Q1 2025 earnings at $2.18 EPS, Q3 2025 earnings at $1.97 EPS, Q4 2025 earnings at $3.45 EPS, FY2025 earnings at $9.33 EPS and FY2026 earnings at $9.36 EPS.

Separately, National Bankshares increased their price objective on shares of Ovintiv from C$59.00 to C$68.00 and gave the company an “outperform” rating in a research report on Friday, April 19th.

Ovintiv Price Performance

Shares of OVV opened at C$64.13 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.51 and a debt-to-equity ratio of 69.30. The company’s fifty day simple moving average is C$67.53 and its 200 day simple moving average is C$64.33. Ovintiv has a 1-year low of C$48.31 and a 1-year high of C$76.63. The company has a market cap of C$17.12 billion, a price-to-earnings ratio of 6.52, a PEG ratio of 0.05 and a beta of 2.67.

Ovintiv (TSE:OVV) last issued its quarterly earnings results on Tuesday, May 7th. The company reported C$1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.80 by C$0.14. The firm had revenue of C$3.17 billion for the quarter, compared to analyst estimates of C$3.53 billion. Ovintiv had a net margin of 18.52% and a return on equity of 21.33%.

Ovintiv Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were issued a dividend of $0.413 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from Ovintiv’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, June 14th. Ovintiv’s dividend payout ratio is presently 16.70%.

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.