Ovintiv Inc. (TSE:OVV - Free Report) - Analysts at Zacks Research raised their Q1 2024 earnings estimates for Ovintiv in a report released on Tuesday, April 2nd. Zacks Research analyst R. Department now anticipates that the company will earn $1.90 per share for the quarter, up from their prior forecast of $1.89. The consensus estimate for Ovintiv's current full-year earnings is $9.44 per share. Zacks Research also issued estimates for Ovintiv's Q2 2024 earnings at $1.51 EPS, Q3 2024 earnings at $2.06 EPS, Q4 2024 earnings at $1.98 EPS, FY2024 earnings at $7.45 EPS, Q1 2025 earnings at $2.29 EPS, Q2 2025 earnings at $1.83 EPS, Q3 2025 earnings at $1.66 EPS and FY2025 earnings at $8.23 EPS.
Separately, Royal Bank of Canada raised their price target on shares of Ovintiv from C$48.00 to C$49.00 and gave the company a "sector perform" rating in a research report on Thursday, February 29th.
Read Our Latest Research Report on Ovintiv
Ovintiv Stock Performance
Shares of TSE:OVV traded up C$0.66 during midday trading on Thursday, reaching C$73.84. The company's stock had a trading volume of 132,990 shares, compared to its average volume of 134,293. The firm has a market capitalization of C$19.86 billion, a PE ratio of 6.88, a P/E/G ratio of 0.05 and a beta of 2.67. The company has a quick ratio of 0.51, a current ratio of 0.60 and a debt-to-equity ratio of 64.45. The stock has a fifty day moving average of C$64.16 and a 200 day moving average of C$62.11. Ovintiv has a twelve month low of C$43.23 and a twelve month high of C$73.85.
Ovintiv (TSE:OVV - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported C$3.20 earnings per share for the quarter, topping analysts' consensus estimates of C$2.61 by C$0.59. The firm had revenue of C$4.31 billion for the quarter, compared to analyst estimates of C$3.69 billion. Ovintiv had a net margin of 19.56% and a return on equity of 23.09%.
Ovintiv Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were given a dividend of $0.403 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.61 annualized dividend and a yield of 2.18%. Ovintiv's dividend payout ratio is presently 15.08%.
Ovintiv Company Profile
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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. 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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