Capital One Financial Forecasts Lower Earnings for Ovintiv

Ovintiv Inc. (TSE:OVV) – Analysts at Capital One Financial decreased their FY2024 earnings estimates for Ovintiv in a research note issued on Monday, November 18th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $7.69 for the year, down from their prior forecast of $7.78. 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 $1.37 EPS, FY2025 earnings at $6.43 EPS and FY2026 earnings at $8.19 EPS.

Separately, Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. One equities research 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, Ovintiv has a consensus rating of “Buy” and a consensus target price of C$58.50.

Ovintiv Trading Up 2.5 %

OVV stock opened at C$63.91 on Wednesday. Ovintiv has a one year low of C$49.74 and a one year high of C$76.63. The stock has a market cap of C$16.85 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63. The company has a fifty day moving average price of C$56.48 and a two-hundred day moving average price of C$60.91. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.406 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.54%. Ovintiv’s payout ratio is 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.