Zacks Research Brokers Boost Earnings Estimates for Ovintiv

Ovintiv Inc. (NYSE:OVV) – Equities researchers at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Ovintiv in a research note issued on Thursday, January 16th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $5.47 for the year, up from their previous forecast of $5.42. The consensus estimate for Ovintiv’s current full-year earnings is $5.58 per share. Zacks Research also issued estimates for Ovintiv’s Q4 2024 earnings at $0.96 EPS, Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $1.36 EPS, FY2025 earnings at $4.62 EPS, Q1 2026 earnings at $0.97 EPS, Q2 2026 earnings at $0.99 EPS, Q3 2026 earnings at $1.33 EPS, Q4 2026 earnings at $1.96 EPS and FY2026 earnings at $5.24 EPS.

Ovintiv (NYSE:OVV) last posted its earnings results on Thursday, November 7th. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.09 by $0.76. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. Ovintiv had a return on equity of 17.87% and a net margin of 20.15%. During the same period last year, the company earned $1.74 earnings per share.

Other research analysts have also issued research reports about the company. Barclays upped their price target on Ovintiv from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Mizuho lowered their price objective on Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Citigroup cut their target price on Ovintiv from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Bank of America upgraded Ovintiv from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $55.00 to $54.00 in a research note on Monday, January 13th. Finally, Evercore ISI reduced their price objective on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.81.

Ovintiv Stock Performance

NYSE:OVV opened at $45.40 on Monday. Ovintiv has a 1-year low of $36.90 and a 1-year high of $55.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. The business has a 50 day moving average of $42.49 and a 200 day moving average of $42.44. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 6.02 and a beta of 2.63.

Ovintiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 2.64%. Ovintiv’s payout ratio is currently 15.92%.

Institutional Investors Weigh In On Ovintiv

Several institutional investors have recently modified their holdings of the stock. True Wealth Design LLC lifted its position in Ovintiv by 3,180.0% in the third quarter. True Wealth Design LLC now owns 656 shares of the company’s stock worth $25,000 after buying an additional 636 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Ovintiv by 100.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 717 shares of the company’s stock valued at $29,000 after acquiring an additional 360 shares during the last quarter. UMB Bank n.a. boosted its position in Ovintiv by 27.7% in the 3rd quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after buying an additional 286 shares during the period. Transamerica Financial Advisors Inc. bought a new position in Ovintiv in the 3rd quarter worth about $65,000. Finally, Covestor Ltd increased its position in Ovintiv by 43.9% during the 3rd quarter. Covestor Ltd now owns 1,835 shares of the company’s stock valued at $70,000 after purchasing an additional 560 shares during the period. 83.81% of the stock is owned by institutional investors.

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.