Capital One Financial Estimates Ovintiv FY2024 Earnings

Ovintiv Inc. (NYSE:OVV) – Equities research analysts at Capital One Financial reduced their FY2024 earnings per share (EPS) estimates for Ovintiv in a report issued on Monday, November 18th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $5.49 per share for the year, down from their previous forecast of $5.59. The consensus estimate for Ovintiv’s current full-year earnings is $5.31 per share. Capital One Financial also issued estimates for Ovintiv’s Q4 2024 earnings at $0.98 EPS and FY2026 earnings at $5.85 EPS.

Several other equities research analysts also recently issued reports on OVV. Evercore ISI dropped their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Truist Financial lifted their target price on Ovintiv from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays increased their target price on Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Mizuho reduced their price objective on Ovintiv from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company dropped their price target on shares of Ovintiv from $51.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.71.

Ovintiv Trading Up 1.9 %

Shares of OVV opened at $46.59 on Wednesday. The stock has a market cap of $12.13 billion, a PE ratio of 6.18 and a beta of 2.62. Ovintiv has a 12 month low of $36.90 and a 12 month high of $55.95. The stock’s 50-day moving average is $41.22 and its two-hundred day moving average is $44.34. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Institutional Investors Weigh In On Ovintiv

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Ovintiv by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 28,055,344 shares of the company’s stock valued at $1,456,072,000 after purchasing an additional 1,024,931 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Ovintiv by 17.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,212,561 shares of the company’s stock valued at $314,623,000 after buying an additional 1,207,610 shares during the period. Pacer Advisors Inc. increased its stake in Ovintiv by 11,282.4% during the third quarter. Pacer Advisors Inc. now owns 6,543,648 shares of the company’s stock valued at $250,687,000 after acquiring an additional 6,486,159 shares during the period. Smead Capital Management Inc. raised its holdings in Ovintiv by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 6,303,203 shares of the company’s stock valued at $241,476,000 after acquiring an additional 212,535 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Ovintiv by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,533,633 shares of the company’s stock valued at $173,296,000 after acquiring an additional 205,409 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Friday, December 13th. Ovintiv’s dividend payout ratio is 15.92%.

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.