Q3 2024 EPS Estimates for Ovintiv Inc. Reduced by Analyst (TSE:OVV)

Ovintiv Inc. (TSE:OVV) – Equities research analysts at Capital One Financial decreased their Q3 2024 EPS estimates for Ovintiv in a research note issued on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $1.60 per share for the quarter, down from their prior forecast of $2.17. Capital One Financial also issued estimates for Ovintiv’s Q4 2024 earnings at $1.44 EPS, FY2024 earnings at $6.68 EPS, Q1 2025 earnings at $1.32 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.47 EPS, Q4 2025 earnings at $1.54 EPS, FY2025 earnings at $5.73 EPS and FY2026 earnings at $7.00 EPS.

A number of other research firms have also weighed in on OVV. Evercore ISI raised Ovintiv from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Wolfe Research raised Ovintiv to a “strong-buy” rating in a research note on Thursday, July 18th.

Ovintiv Stock Performance

TSE OVV opened at C$55.00 on Friday. The company has a debt-to-equity ratio of 67.70, a current ratio of 0.44 and a quick ratio of 0.51. The company has a market cap of C$14.50 billion, a P/E ratio of 5.68, a P/E/G ratio of 0.05 and a beta of 2.64. The stock has a 50-day moving average of C$59.25 and a two-hundred day moving average of C$65.14. Ovintiv has a 1-year low of C$51.51 and a 1-year high of C$76.63.

Ovintiv (TSE:OVV) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.67 by C$0.02. Ovintiv had a return on equity of 19.75% and a net margin of 18.84%. The firm had revenue of C$3.13 billion for the quarter, compared to the consensus estimate of C$3.46 billion.

Ovintiv Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, September 13th. Ovintiv’s dividend payout ratio (DPR) is presently 16.84%.

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.