Zacks Research Analysts Raise Earnings Estimates for Ovintiv

Ovintiv Inc. (NYSE:OVV) – Zacks Research increased their FY2024 earnings estimates for shares of Ovintiv in a research report issued on Thursday, January 16th. Zacks Research analyst R. Department now expects that the company will earn $5.47 per share for the year, up from their prior forecast of $5.42. The consensus estimate for Ovintiv’s current full-year earnings is $5.47 per share. Zacks Research also issued estimates for Ovintiv’s Q4 2024 earnings at $0.96 EPS, Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $1.36 EPS, FY2025 earnings at $4.62 EPS, Q1 2026 earnings at $0.97 EPS, Q2 2026 earnings at $0.99 EPS, Q3 2026 earnings at $1.33 EPS, Q4 2026 earnings at $1.96 EPS and FY2026 earnings at $5.24 EPS.

OVV has been the subject of a number of other research reports. Bank of America raised Ovintiv from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $55.00 to $54.00 in a report on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of Ovintiv from $48.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Barclays boosted their target price on shares of Ovintiv from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. UBS Group decreased their price target on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Finally, Mizuho reduced their price objective on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.81.

Ovintiv Stock Down 0.4 %

Shares of OVV opened at $45.73 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.52 and a current ratio of 0.52. Ovintiv has a 52 week low of $36.90 and a 52 week high of $55.95. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 6.06 and a beta of 2.63. The stock has a fifty day moving average of $42.43 and a 200-day moving average of $42.45.

Institutional Investors Weigh In On Ovintiv

A number of large investors have recently bought and sold shares of OVV. True Wealth Design LLC boosted its position in shares of Ovintiv by 3,180.0% during the 3rd quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after purchasing an additional 636 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Ovintiv by 100.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares in the last quarter. UMB Bank n.a. boosted its holdings in Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock worth $50,000 after acquiring an additional 286 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in Ovintiv in the third quarter valued at approximately $65,000. Finally, Covestor Ltd increased its holdings in shares of Ovintiv by 43.9% during the third quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after acquiring an additional 560 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Ovintiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s dividend payout ratio is presently 15.92%.

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.