Zacks Research Has Bearish Forecast for Ovintiv Q1 Earnings

Key Points

• Zacks Research lowered its Ovintiv Q1 2028 earnings estimate to $1.44 per share from $1.48, while forecasting $6.54 in FY2028 earnings.
• Ovintiv’s latest quarter missed consensus earnings expectations, reporting $1.74 per share versus $1.94 expected, despite revenue of $3.01 billion exceeding estimates.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $70.32; shares recently traded at $66.71, up 2.4%.

Ovintiv Inc. (NYSE:OVV - Free Report) - Analysts at Zacks Research decreased their Q1 2028 earnings estimates for shares of Ovintiv in a research note issued to investors on Monday, October 12th. Zacks Research analyst Team now forecasts that the company will post earnings of $1.44 per share for the quarter, down from their prior estimate of $1.48. The consensus estimate for Ovintiv's current full-year earnings is $7.29 per share. Zacks Research also issued estimates for Ovintiv's Q3 2028 earnings at $1.53 EPS and FY2028 earnings at $6.54 EPS.

Ovintiv (NYSE:OVV - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts' consensus estimates of $1.94 by ($0.20). The firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $2.37 billion. Ovintiv had a return on equity of 14.84% and a net margin of 9.43%.

A number of other research firms have also recently commented on OVV. Scotia upped their target price on Ovintiv from $70.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Friday, October 2nd. Wells Fargo & Company raised their price target on Ovintiv from $78.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 2nd. Wall Street Zen upgraded Ovintiv from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 3rd. Seaport Research Partners assumed coverage on Ovintiv in a report on Thursday, September 3rd. They set a "neutral" rating for the company. Finally, National Bank Financial upped their price objective on Ovintiv from $83.00 to $91.00 and gave the company an "outperform" rating in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.32.

Ovintiv Stock Up 2.4%

Shares of NYSE OVV opened at $66.71 on Wednesday. Ovintiv has a 1 year low of $35.47 and a 1 year high of $67.51. The firm has a 50-day simple moving average of $63.10 and a two-hundred day simple moving average of $59.37. The company has a market cap of $18.38 billion, a P/E ratio of 10.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01.

Hedge Funds Weigh In On Ovintiv

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Ovintiv during the second quarter valued at approximately $1,422,959,000. Arrowstreet Capital Limited Partnership raised its stake in Ovintiv by 16.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,880,705 shares of the company's stock worth $467,874,000 after buying an additional 1,137,162 shares in the last quarter. Millennium Management LLC raised its stake in Ovintiv by 116.3% in the fourth quarter. Millennium Management LLC now owns 5,692,806 shares of the company's stock worth $223,101,000 after buying an additional 3,060,691 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Ovintiv by 8.8% during the first quarter. Bank of New York Mellon Corp now owns 2,945,692 shares of the company's stock worth $174,856,000 after buying an additional 239,054 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Ovintiv by 119.7% during the second quarter. Van ECK Associates Corp now owns 1,717,400 shares of the company's stock worth $90,421,000 after buying an additional 935,860 shares during the period. 83.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ovintiv

In other Ovintiv news, EVP Rachel Moore sold 7,753 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total value of $490,919.96. Following the completion of the sale, the executive vice president directly owned 72,530 shares of the company's stock, valued at $4,592,599.60. The trade was a 9.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. Ovintiv's dividend payout ratio (DPR) is presently 33.90%.

Key Ovintiv News

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on Ovintiv to $90 from $85 and maintained an “Outperform” rating, implying substantial upside from recent trading levels. RBC Raises Price Target on Ovintiv to $90 From $85, Keeps Outperform Rating
• Positive Sentiment: Zacks Research raised its Ovintiv EPS forecasts for late 2026 and several 2027 periods, including FY2026 to $6.73 from $6.71 and FY2027 to $5.49 from $5.24. The revisions suggest better near-term operating expectations despite Zacks retaining a “Hold” rating.
• Positive Sentiment: Analysts at Zacks said Ovintiv’s recent performance has benefited from higher oil output, strong free cash flow and a deep drilling inventory, helping the stock outperform its subindustry over the past three months. Ovintiv Stock Rallies 13% in the Past 3 Months: Is It a Buy or Hold?
• Positive Sentiment: UBS expects Ovintiv to deliver a positive operational update, although it cautioned that midstream conditions could create headwinds. Ovintiv Seen Posting Positive Update Despite Midstream Headwinds, UBS Says

Ovintiv Company Profile

Ovintiv Inc NYSE: OVV is an energy company engaged in the exploration, development, production and operation of oil and natural gas properties. Its production includes crude oil, condensate, plant condensate, natural gas liquids and natural gas.

The company's operations are concentrated in North America, with core assets in the Permian Basin, Uinta Basin and Anadarko Basin in the United States, as well as the Montney region in western Canada. Ovintiv also owns and operates related processing, gathering and other midstream infrastructure that supports the production and transportation of its energy products.

Ovintiv was formerly known as Encana Corporation and adopted its current name in 2020.

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