Zacks Research Has Pessimistic View of Ovintiv Q3 Earnings

Key Points

• Zacks Research has reduced its Q3 2027 earnings estimate for Ovintiv from $1.48 to $1.23 per share, maintaining a "Strong Sell" rating on the stock.
• Institutional ownership in Ovintiv is significant, with 83.81% of shares held by institutional investors, indicating strong confidence from these entities.
• Ovintiv recently declared a quarterly dividend of $0.30 per share, representing an annual yield of 3.0% based on its dividend payout ratio of 53.10%.

Ovintiv Inc. (NYSE:OVV - Free Report) - Equities research analysts at Zacks Research reduced their Q3 2027 earnings estimates for shares of Ovintiv in a research note issued to investors on Monday, September 29th. Zacks Research analyst Team now forecasts that the company will earn $1.23 per share for the quarter, down from their previous forecast of $1.48. Zacks Research has a "Strong Sell" rating on the stock. The consensus estimate for Ovintiv's current full-year earnings is $5.59 per share.

Other equities analysts have also issued research reports about the stock. Mizuho decreased their price target on shares of Ovintiv from $58.00 to $50.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Wells Fargo & Company decreased their price target on shares of Ovintiv from $46.00 to $41.00 and set an "equal weight" rating on the stock in a report on Monday, June 16th. UBS Group increased their price target on shares of Ovintiv from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. The Goldman Sachs Group raised shares of Ovintiv from a "neutral" rating to a "buy" rating and increased their price target for the stock from $47.00 to $51.00 in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $55.00 price target on shares of Ovintiv in a report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.60.

Ovintiv Stock Performance

NYSE OVV opened at $40.53 on Thursday. Ovintiv has a 1 year low of $29.80 and a 1 year high of $47.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $10.42 billion, a PE ratio of 17.93, a P/E/G ratio of 5.22 and a beta of 0.97. The company's 50 day simple moving average is $41.02 and its two-hundred day simple moving average is $38.99.

Ovintiv (NYSE:OVV - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). Ovintiv had a return on equity of 14.24% and a net margin of 6.46%.The firm had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.92 billion.

Hedge Funds Weigh In On Ovintiv

Institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc grew its holdings in shares of Ovintiv by 316.7% during the 2nd quarter. IFP Advisors Inc now owns 846 shares of the company's stock valued at $32,000 after purchasing an additional 643 shares during the last quarter. Dogwood Wealth Management LLC purchased a new stake in Ovintiv during the 2nd quarter valued at $35,000. Harbour Investments Inc. boosted its position in Ovintiv by 143.8% during the 1st quarter. Harbour Investments Inc. now owns 919 shares of the company's stock valued at $39,000 after buying an additional 542 shares during the period. Gen Wealth Partners Inc boosted its position in Ovintiv by 91.8% during the 1st quarter. Gen Wealth Partners Inc now owns 1,011 shares of the company's stock valued at $43,000 after buying an additional 484 shares during the period. Finally, MAI Capital Management boosted its position in Ovintiv by 174.6% during the 2nd quarter. MAI Capital Management now owns 1,170 shares of the company's stock valued at $45,000 after buying an additional 744 shares during the period. Institutional investors own 83.81% of the company's stock.

Ovintiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. Ovintiv's dividend payout ratio (DPR) is currently 53.10%.

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.

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