Capital One Financial Equities Analysts Cut Earnings Estimates for Ovintiv Inc. (TSE:OVV)

Ovintiv Inc. (TSE:OVV) – Capital One Financial decreased their Q3 2024 earnings per share (EPS) estimates for Ovintiv in a report released on Tuesday, September 17th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $1.60 per share for the quarter, down from their previous forecast of $2.17. Capital One Financial also issued estimates for Ovintiv’s Q4 2024 earnings at $1.44 EPS, FY2024 earnings at $6.68 EPS, Q1 2025 earnings at $1.32 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.47 EPS, Q4 2025 earnings at $1.54 EPS, FY2025 earnings at $5.73 EPS and FY2026 earnings at $7.00 EPS.

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

A number of other equities research analysts have also weighed in on the company. Wolfe Research raised Ovintiv to a “strong-buy” rating in a report on Thursday, July 18th. Evercore ISI upgraded Ovintiv from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th.

Ovintiv Trading Up 0.5 %

Shares of Ovintiv stock opened at C$55.00 on Friday. The firm has a market cap of C$14.50 billion, a price-to-earnings ratio of 5.68, a price-to-earnings-growth ratio of 0.05 and a beta of 2.64. Ovintiv has a 52-week low of C$51.51 and a 52-week high of C$76.63. The company’s 50-day simple moving average is C$59.25 and its 200-day simple moving average is C$65.14. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 67.70.

Ovintiv Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Friday, September 13th. Ovintiv’s dividend payout ratio is currently 16.84%.

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.