FY2024 EPS Estimates for Ovintiv Raised by Zacks Research

Ovintiv Inc. (TSE:OVV) – Investment analysts at Zacks Research boosted their FY2024 EPS estimates for Ovintiv in a research note issued to investors on Thursday, January 16th. Zacks Research analyst R. Department now anticipates that the company will earn $7.87 per share for the year, up from their prior estimate of $7.81. 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 $1.38 EPS, Q1 2025 earnings at $1.51 EPS, Q2 2025 earnings at $1.47 EPS, Q3 2025 earnings at $1.71 EPS, Q4 2025 earnings at $1.96 EPS, FY2025 earnings at $6.64 EPS, Q1 2026 earnings at $1.40 EPS, Q2 2026 earnings at $1.42 EPS, Q3 2026 earnings at $1.91 EPS, Q4 2026 earnings at $2.82 EPS and FY2026 earnings at $7.54 EPS.

Ovintiv (TSE:OVV) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.49 by C$1.03. Ovintiv had a return on equity of 19.75% and a net margin of 18.84%. During the same quarter in the prior year, the company earned $2.33 EPS.

Separately, Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$58.50.

Ovintiv Stock Performance

TSE:OVV opened at C$65.11 on Monday. The company has a debt-to-equity ratio of 67.70, a quick ratio of 0.51 and a current ratio of 0.44. The stock has a market capitalization of C$17.16 billion, a PE ratio of 6.66, a P/E/G ratio of 0.05 and a beta of 2.63. Ovintiv has a fifty-two week low of C$49.74 and a fifty-two week high of C$76.63. The company has a fifty day moving average of C$60.43 and a two-hundred day moving average of C$59.13.

Ovintiv Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid 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 2.49%. Ovintiv’s dividend payout ratio is presently 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.