Q2 2024 EPS Estimates for Ovintiv Inc. Lifted by Analyst (TSE:OVV)

Ovintiv Inc. (TSE:OVV) – Investment analysts at Zacks Research increased their Q2 2024 earnings per share estimates for Ovintiv in a report issued on Wednesday, June 26th. Zacks Research analyst R. Department now forecasts that the company will earn $1.81 per share for the quarter, up from their previous estimate of $1.80. The consensus estimate for Ovintiv’s current full-year earnings is $8.57 per share. Zacks Research also issued estimates for Ovintiv’s Q3 2024 earnings at $2.12 EPS, Q4 2024 earnings at $2.22 EPS, FY2024 earnings at $8.11 EPS, Q1 2025 earnings at $2.18 EPS, Q3 2025 earnings at $1.97 EPS, Q4 2025 earnings at $3.45 EPS, FY2025 earnings at $9.33 EPS and FY2026 earnings at $9.36 EPS.

Several other equities research analysts also recently issued reports on the company. National Bankshares raised their price target on Ovintiv from C$59.00 to C$68.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Royal Bank of Canada lifted their price objective on shares of Ovintiv from C$48.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th.

Ovintiv Stock Up 1.3 %

Shares of Ovintiv stock opened at C$63.77 on Friday. The business’s 50 day simple moving average is C$67.67 and its 200 day simple moving average is C$64.33. Ovintiv has a 52-week low of C$47.04 and a 52-week high of C$76.63. The firm has a market cap of C$17.03 billion, a PE ratio of 6.49, a P/E/G ratio of 0.05 and a beta of 2.67. The company has a debt-to-equity ratio of 69.30, a quick ratio of 0.51 and a current ratio of 0.52.

Ovintiv (TSE:OVV) last released its quarterly earnings results on Tuesday, May 7th. The company reported C$1.94 EPS for the quarter, topping analysts’ consensus estimates of C$1.80 by C$0.14. Ovintiv had a return on equity of 21.33% and a net margin of 18.52%. The company had revenue of C$3.17 billion for the quarter, compared to analyst estimates of C$3.53 billion.

Ovintiv Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 28th will be paid a $0.413 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from Ovintiv’s previous quarterly dividend of $0.40. Ovintiv’s payout ratio is 16.70%.

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.