Capital One Financial Weighs in on Ovintiv Inc.’s Q3 2024 Earnings (TSE:OVV)

Ovintiv Inc. (TSE:OVV) – Equities researchers at Capital One Financial dropped their Q3 2024 EPS estimates for Ovintiv in a research note issued on Monday, October 14th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $1.49 per share for the quarter, down from their previous estimate of $1.60. The consensus estimate for Ovintiv’s current full-year earnings is $5.66 per share. Capital One Financial also issued estimates for Ovintiv’s FY2024 earnings at $6.65 EPS.

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

Ovintiv Trading Down 0.2 %

Shares of TSE OVV opened at C$56.52 on Wednesday. The company has a market cap of C$14.90 billion, a PE ratio of 5.79, a P/E/G ratio of 0.05 and a beta of 2.63. The firm’s 50 day moving average price is C$56.47 and its 200-day moving average price is C$63.53. Ovintiv has a 52-week low of C$49.74 and a 52-week high of C$76.63. The company has a debt-to-equity ratio of 67.70, a quick ratio of 0.51 and a current ratio of 0.44.

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

Ovintiv Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a $0.41 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.64 dividend on an annualized basis and a yield of 2.90%. Ovintiv’s dividend payout ratio is currently 16.58%.

About Ovintiv

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.