Ovintiv FY2024 EPS Forecast Boosted by Capital One Financial

Ovintiv Inc. (TSE:OVV) – Research analysts at Capital One Financial increased their FY2024 earnings estimates for shares of Ovintiv in a note issued to investors on Tuesday, January 14th. Capital One Financial analyst P. Johnston now expects that the company will earn $8.00 per share for the year, up from their prior estimate of $7.93. 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 $1.52 EPS, Q2 2025 earnings at $2.21 EPS, Q3 2025 earnings at $2.34 EPS, Q4 2025 earnings at $2.43 EPS and FY2026 earnings at $10.07 EPS.

Separately, Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$58.50.

Ovintiv Stock Performance

OVV stock opened at C$65.50 on Thursday. 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 cap of C$17.27 billion, a PE ratio of 6.70, a P/E/G ratio of 0.05 and a beta of 2.63. The business has a 50 day moving average of C$59.87 and a 200-day moving average of C$59.07. Ovintiv has a 12-month low of C$49.74 and a 12-month high of C$76.63.

Ovintiv Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a $0.406 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.62 annualized dividend and a yield of 2.48%. 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.