Equities Analysts Set Expectations for Ovintiv Inc.’s Q1 2024 Earnings (TSE:OVV)

Ovintiv Inc. (TSE:OVVFree Report) – Stock analysts at Capital One Financial dropped their Q1 2024 earnings per share estimates for shares of Ovintiv in a research report issued on Tuesday, March 19th. Capital One Financial analyst P. Johnston now forecasts that the company will post earnings per share of $1.53 for the quarter, down from their prior forecast of $1.71. The consensus estimate for Ovintiv’s current full-year earnings is $8.64 per share. Capital One Financial also issued estimates for Ovintiv’s Q2 2024 earnings at $1.58 EPS, Q3 2024 earnings at $1.67 EPS, Q4 2024 earnings at $1.70 EPS, FY2024 earnings at $6.48 EPS and FY2025 earnings at $8.05 EPS.

Separately, Royal Bank of Canada raised their price objective on 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.

Read Our Latest Research Report on OVV

Ovintiv Stock Up 0.4 %

Shares of OVV opened at C$69.67 on Thursday. Ovintiv has a 52-week low of C$43.23 and a 52-week high of C$70.61. The company has a market capitalization of C$18.78 billion, a PE ratio of 6.55, a price-to-earnings-growth ratio of 0.05 and a beta of 2.67. The stock has a fifty day simple moving average of C$60.83 and a two-hundred day simple moving average of C$61.61. The company has a quick ratio of 0.51, a current ratio of 0.60 and a debt-to-equity ratio of 64.45.

Ovintiv (TSE:OVVGet Free Report) last issued its earnings results on Tuesday, February 27th. The company reported C$3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.61 by C$0.59. Ovintiv had a return on equity of 23.09% and a net margin of 19.56%. The business had revenue of C$4.31 billion during the quarter, compared to the consensus estimate of C$3.69 billion.

Ovintiv Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 28th will be given a dividend of $0.403 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, March 14th. Ovintiv’s payout ratio is 15.24%.

Ovintiv Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Ovintiv (TSE:OVV)

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