Capital One Financial Predicts Ovintiv FY2024 Earnings

Ovintiv Inc. (TSE:OVV) – Equities researchers at Capital One Financial upped their FY2024 earnings estimates for Ovintiv in a note issued to investors on Tuesday, January 14th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $8.00 per share for the year, up from their previous forecast of $7.93. The consensus estimate for Ovintiv’s current full-year earnings is $5.66 per share. Capital One Financial also issued estimates for Ovintiv’s Q4 2024 earnings at $1.52 EPS, Q2 2025 earnings at $2.21 EPS, Q3 2025 earnings at $2.34 EPS, Q4 2025 earnings at $2.43 EPS and FY2026 earnings at $10.07 EPS.

Separately, Siebert Williams Shank upgraded Ovintiv to a “strong-buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Ovintiv currently has an average rating of “Buy” and an average price target of C$58.50.

Ovintiv Stock Up 1.5 %

Ovintiv stock opened at C$65.50 on Thursday. The firm has a market capitalization of C$17.27 billion, a price-to-earnings ratio of 6.70, a P/E/G ratio of 0.05 and a beta of 2.63. The firm has a 50 day simple moving average of C$59.87 and a 200 day simple moving average of C$59.07. Ovintiv has a 1-year low of C$49.74 and a 1-year high of C$76.63. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 67.70.

Ovintiv Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.406 per share. This represents a $1.62 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s dividend payout ratio (DPR) is presently 16.58%.

Ovintiv Company Profile

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.