Ovintiv Inc. to Post Q1 2024 Earnings of $1.92 Per Share, Capital One Financial Forecasts (TSE:OVV)

Ovintiv Inc. (TSE:OVV) – Stock analysts at Capital One Financial increased their Q1 2024 earnings estimates for Ovintiv in a research note issued on Friday, April 19th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $1.92 per share for the quarter, up from their previous estimate of $1.78. The consensus estimate for Ovintiv’s current full-year earnings is $8.51 per share. Capital One Financial also issued estimates for Ovintiv’s FY2024 earnings at $8.90 EPS and FY2025 earnings at $10.14 EPS.

Ovintiv (TSE:OVV) last released its quarterly earnings results on Tuesday, February 27th. The company reported C$3.20 EPS for the quarter, beating the consensus estimate of C$2.61 by C$0.59. Ovintiv had a net margin of 19.56% and a return on equity of 23.09%. The business had revenue of C$4.31 billion for the quarter, compared to the consensus estimate of C$3.69 billion.

Several other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Ovintiv from C$48.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. National Bankshares upped their price objective on shares of Ovintiv from C$59.00 to C$68.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th.

Ovintiv Trading Up 0.8 %

OVV stock opened at C$72.08 on Monday. The company has a debt-to-equity ratio of 64.45, a quick ratio of 0.51 and a current ratio of 0.60. The company’s 50-day simple moving average is C$68.47 and its 200 day simple moving average is C$63.06. Ovintiv has a 52 week low of C$43.23 and a 52 week high of C$76.63. The company has a market capitalization of C$19.39 billion, a PE ratio of 6.71, a price-to-earnings-growth ratio of 0.05 and a beta of 2.67.

Ovintiv Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a dividend of $0.403 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.61 annualized dividend and a yield of 2.24%. Ovintiv’s dividend payout ratio is 15.08%.

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.