Capital One Financial Lowers Earnings Estimates for Ovintiv

Ovintiv Inc. (TSE:OVV) – Equities research analysts at Capital One Financial dropped their FY2024 earnings per share estimates for Ovintiv in a research note issued on Monday, November 18th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $7.69 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 upgraded Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$58.50.

Ovintiv Stock Performance

Shares of Ovintiv stock opened at C$65.13 on Wednesday. Ovintiv has a one year low of C$49.74 and a one year high of C$76.63. The company has a market cap of C$17.17 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 0.05 and a beta of 2.63. 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$56.73 and its 200 day moving average price is C$60.87.

Ovintiv Cuts Dividend

The firm 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 $0.406 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.62 dividend on an annualized basis and a yield of 2.49%. Ovintiv’s dividend payout ratio is currently 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.