Capital One Financial Lowers Earnings Estimates for Ovintiv

Ovintiv Inc. (TSE:OVV) – Investment analysts at Capital One Financial reduced their FY2024 earnings per share (EPS) estimates for shares of Ovintiv in a note issued to investors on Monday, November 18th. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $7.69 per share for the year, down from their previous 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 raised Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$58.50.

Ovintiv Stock Up 1.9 %

Shares of TSE OVV opened at C$65.13 on Wednesday. The company has a market capitalization of C$17.17 billion, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63. 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 business has a 50-day moving average of C$56.73 and a two-hundred day moving average of C$60.87. Ovintiv has a 1 year low of C$49.74 and a 1 year high of C$76.63.

Ovintiv Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.406 per share. This represents a $1.62 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, December 13th. 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.