Zacks Research Issues Positive Forecast for Ovintiv Earnings

Key Points

• Zacks Research raised its Q3 2028 EPS estimate for Ovintiv to $1.54 from $1.51, while maintaining a “Hold” rating. Analysts overall have a “Moderate Buy” consensus rating and a $69.15 average price target.
• Ovintiv recently reported quarterly EPS of $1.74, below the $1.94 consensus estimate, despite revenue of $3.01 billion exceeding expectations. The company also paid a quarterly dividend of $0.30, equivalent to a 2.0% annual yield.
• Institutional investors own 83.81% of Ovintiv’s shares, while the company continues returning capital through dividends and a renewed share-buyback program. An executive recently sold 7,753 shares, reducing her stake by 9.66%.

Ovintiv Inc. (NYSE:OVV - Free Report) - Analysts at Zacks Research lifted their Q3 2028 EPS estimates for shares of Ovintiv in a report released on Wednesday, September 30th. Zacks Research analyst Team now expects that the company will post earnings per share of $1.54 for the quarter, up from their prior estimate of $1.51. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Ovintiv's current full-year earnings is $7.29 per share.

OVV has been the subject of several other research reports. Weiss Ratings upgraded shares of Ovintiv from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Wells Fargo & Company increased their target price on shares of Ovintiv from $78.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, September 2nd. Truist Financial reiterated a "buy" rating and set a $73.00 price target (up from $66.00) on shares of Ovintiv in a research note on Monday, July 27th. Stephens reissued a "positive" rating and issued a $69.00 price target on shares of Ovintiv in a research report on Friday, July 24th. Finally, National Bank Financial upped their price objective on shares of Ovintiv from $83.00 to $91.00 and gave the company an "outperform" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Ovintiv currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.15.

Ovintiv Price Performance

OVV stock opened at $59.94 on Friday. The business has a 50 day moving average price of $62.84 and a 200 day moving average price of $59.04. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.32. The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 16.93 and a beta of 0.65. Ovintiv has a fifty-two week low of $35.47 and a fifty-two week high of $67.51.

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

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, September 15th. Ovintiv's dividend payout ratio is presently 33.90%.

Insider Activity at Ovintiv

In other news, EVP Rachel Moore sold 7,753 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total transaction of $490,919.96. Following the completion of the sale, the executive vice president owned 72,530 shares in the company, valued at approximately $4,592,599.60. This represents a 9.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.85% of the company's stock.

Institutional Trading of Ovintiv

Several institutional investors and hedge funds have recently added to or reduced their stakes in OVV. QRG Capital Management Inc. lifted its position in Ovintiv by 15.0% during the 2nd quarter. QRG Capital Management Inc. now owns 16,400 shares of the company's stock worth $863,000 after acquiring an additional 2,133 shares during the period. Core Capital Management & Research inc. purchased a new stake in shares of Ovintiv during the second quarter worth approximately $4,716,000. Sequoia Financial Advisors LLC raised its stake in shares of Ovintiv by 18.4% during the second quarter. Sequoia Financial Advisors LLC now owns 33,268 shares of the company's stock worth $1,752,000 after purchasing an additional 5,160 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Ovintiv by 376.4% during the second quarter. Tidal Investments LLC now owns 162,405 shares of the company's stock worth $8,550,000 after purchasing an additional 128,312 shares during the period. Finally, Integrated Wealth Concepts LLC grew its position in Ovintiv by 5.0% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 5,460 shares of the company's stock valued at $287,000 after buying an additional 260 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Ovintiv

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Higher price target and bullish rating: National Bank Financial raised its price target for Ovintiv from $83 to $91 and upgraded or reaffirmed an “outperform” view, implying substantial potential appreciation from recent trading levels. Ovintiv Stock Price Expected to Rise, National Bank Financial Analyst Says
• Positive Sentiment: Share buyback renewed: Ovintiv received approval to renew its normal-course issuer bid. The program supports the company’s plan to return 50% to 100% of annual non-GAAP free cash flow through dividends and repurchases, which can reduce shares outstanding and enhance per-share value. Reports also reference a potential buyback of up to 26.97 million shares. Ovintiv Renews Annual Share Buy-Back Program
• Positive Sentiment: Forecast revisions moved upward: Zacks Research modestly increased its EPS estimates across several periods, including fiscal 2026 to $6.71 from $6.70, fiscal 2027 to $5.24 from $5.11, and fiscal 2028 to $6.67 from $6.57. Quarterly estimates for 2027 and 2028 were also raised, signaling slightly improved earnings expectations.
• Neutral Sentiment: Analyst conviction remains mixed: Although National Bank Financial is bullish, Zacks Research maintains a “Hold” rating. The upward EPS changes are relatively small, so they provide incremental support rather than a major change in Ovintiv’s outlook.

About Ovintiv

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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