Capital One Financial Weighs in on Ovintiv FY2024 Earnings

Ovintiv Inc. (TSE:OVV) – Investment analysts at Capital One Financial boosted their FY2024 EPS estimates for Ovintiv in a report issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now expects that the company will earn $7.93 per share for the year, up from their prior forecast of $7.69. 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 $1.44 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.20 EPS, Q3 2025 earnings at $2.33 EPS, Q4 2025 earnings at $2.42 EPS, FY2025 earnings at $8.99 EPS and FY2026 earnings at $10.05 EPS.

Separately, Siebert Williams Shank upgraded shares of Ovintiv to a “strong-buy” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating, one has issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Ovintiv has a consensus rating of “Buy” and a consensus price target of C$58.50.

Ovintiv Stock Performance

TSE:OVV opened at C$64.17 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 67.70. The firm has a market capitalization of C$16.92 billion, a PE ratio of 6.57, a price-to-earnings-growth ratio of 0.05 and a beta of 2.63. Ovintiv has a twelve month low of C$49.74 and a twelve month high of C$76.63. The stock’s 50-day simple moving average is C$59.68 and its 200 day simple moving average is C$59.07.

Ovintiv Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.406 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.62 annualized dividend and a yield of 2.53%. Ovintiv’s payout ratio is 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.