Capital One Financial Comments on Ovintiv FY2024 Earnings

Ovintiv Inc. (TSE:OVV) – Analysts at Capital One Financial increased their FY2024 EPS estimates for Ovintiv in a research report issued to clients and investors on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $7.93 for the year, up from their prior estimate of $7.69. 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 $1.44 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.20 EPS, Q3 2025 earnings at $2.33 EPS, Q4 2025 earnings at $2.42 EPS, FY2025 earnings at $8.99 EPS and FY2026 earnings at $10.05 EPS.

Separately, Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$58.50.

Ovintiv Stock Performance

OVV stock opened at C$62.95 on Monday. 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 has a twelve month low of C$49.74 and a twelve month high of C$76.63. The business’s fifty day moving average is C$59.51 and its 200-day moving average is C$59.03. The company has a market cap of C$16.59 billion, a P/E ratio of 6.44, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63.

Ovintiv Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.406 dividend. 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 2.58%. 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.