Zacks Research Equities Analysts Lift Earnings Estimates for Ovintiv Inc. (TSE:OVV)

Ovintiv Inc. (TSE:OVVFree Report) – Analysts at Zacks Research lifted their FY2023 earnings per share estimates for Ovintiv in a research note issued on Monday, February 5th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $8.50 for the year, up from their prior estimate of $8.45. The consensus estimate for Ovintiv’s current full-year earnings is $8.99 per share. Zacks Research also issued estimates for Ovintiv’s Q3 2024 earnings at $2.21 EPS and FY2024 earnings at $8.80 EPS.

Ovintiv (TSE:OVVGet Free Report) last posted its earnings results on Tuesday, November 7th. The company reported C$2.33 earnings per share for the quarter, missing the consensus estimate of C$2.39 by C($0.06). Ovintiv had a net margin of 23.19% and a return on equity of 31.85%. The company had revenue of C$3.55 billion for the quarter, compared to the consensus estimate of C$3.52 billion.

Ovintiv Price Performance

TSE OVV opened at C$55.67 on Tuesday. Ovintiv has a fifty-two week low of C$43.23 and a fifty-two week high of C$70.61. The stock’s 50-day moving average is C$57.29 and its two-hundred day moving average is C$61.43. The company has a debt-to-equity ratio of 74.11, a current ratio of 0.45 and a quick ratio of 0.51. The firm has a market cap of C$15.13 billion, a P/E ratio of 4.14, a price-to-earnings-growth ratio of 0.05 and a beta of 3.28.

Ovintiv Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 29th were paid a $0.416 dividend. The ex-dividend date was Thursday, December 14th. This is a positive change from Ovintiv’s previous quarterly dividend of $0.40. This represents a $1.66 dividend on an annualized basis and a dividend yield of 2.99%. Ovintiv’s payout ratio is presently 11.83%.

About Ovintiv

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Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

See Also

Earnings History and Estimates for Ovintiv (TSE:OVV)

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