FY2024 EPS Estimates for Ovintiv Increased by Analyst

Ovintiv Inc. (TSE:OVV) – Equities researchers at Capital One Financial boosted their FY2024 earnings estimates for Ovintiv in a research report issued to clients and investors on Tuesday, January 14th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings of $8.00 per share for the year, up from their previous estimate of $7.93. 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 $1.52 EPS, Q2 2025 earnings at $2.21 EPS, Q3 2025 earnings at $2.34 EPS, Q4 2025 earnings at $2.43 EPS and FY2026 earnings at $10.07 EPS.

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

Ovintiv Stock Up 0.9 %

TSE OVV opened at C$66.09 on Thursday. Ovintiv has a 12 month low of C$49.74 and a 12 month high of C$76.63. The company has a market capitalization of C$17.42 billion, a P/E ratio of 6.76, a PEG ratio of 0.05 and a beta of 2.63. The company’s 50 day simple moving average is C$60.01 and its 200 day simple moving average is C$59.08. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.406 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.62 annualized dividend and a yield of 2.46%. Ovintiv’s payout ratio is presently 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.