Ovintiv FY2024 EPS Estimate Reduced by Capital One Financial

Ovintiv Inc. (TSE:OVV) – Analysts at Capital One Financial dropped their FY2024 earnings estimates for Ovintiv in a report issued on Monday, November 18th. Capital One Financial analyst P. Johnston now expects that the company will earn $7.69 per share 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 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$58.50.

Ovintiv Stock Performance

TSE OVV opened at C$62.34 on Wednesday. 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 debt-to-equity ratio of 67.70, a quick ratio of 0.51 and a current ratio of 0.44. The business’s 50 day moving average price is C$56.25 and its 200-day moving average price is C$60.95. The company has a market cap of C$16.43 billion, a P/E ratio of 6.38, a P/E/G ratio of 0.05 and a beta of 2.63.

Ovintiv Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.406 dividend. This represents a $1.62 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s payout ratio is currently 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.