Ovintiv Inc. (TSE:OVV) to Post Q2 2024 Earnings of $2.09 Per Share, Seaport Res Ptn Forecasts

Ovintiv Inc. (TSE:OVV) – Research analysts at Seaport Res Ptn reduced their Q2 2024 earnings per share estimates for shares of Ovintiv in a report released on Wednesday, May 8th. Seaport Res Ptn analyst N. Pope now expects that the company will earn $2.09 per share for the quarter, down from their previous forecast of $2.29. The consensus estimate for Ovintiv’s current full-year earnings is $8.12 per share. Seaport Res Ptn also issued estimates for Ovintiv’s Q4 2024 earnings at $2.33 EPS, Q1 2025 earnings at $2.35 EPS, Q2 2025 earnings at $2.05 EPS, Q3 2025 earnings at $2.10 EPS and FY2025 earnings at $8.87 EPS.

Ovintiv (TSE:OVV) last announced its quarterly earnings data on Tuesday, February 27th. The company reported C$3.20 EPS for the quarter, topping the consensus estimate of C$2.61 by C$0.59. Ovintiv had a net margin of 19.56% and a return on equity of 23.09%. The company had revenue of C$4.31 billion during the quarter, compared to the consensus estimate of C$3.69 billion.

Several other brokerages also recently commented on OVV. National Bankshares raised their target price on Ovintiv from C$59.00 to C$68.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Royal Bank of Canada boosted their price objective on Ovintiv from C$48.00 to C$49.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th.

Ovintiv Trading Down 3.0 %

TSE:OVV opened at C$69.86 on Thursday. Ovintiv has a 12 month low of C$43.23 and a 12 month high of C$76.63. The company has a current ratio of 0.60, a quick ratio of 0.51 and a debt-to-equity ratio of 64.45. The stock has a market capitalization of C$18.79 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 0.05 and a beta of 2.69. The firm has a fifty day simple moving average of C$70.60 and a two-hundred day simple moving average of C$63.35.

Ovintiv Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.403 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.61 dividend on an annualized basis and a yield of 2.31%. Ovintiv’s dividend payout ratio (DPR) is currently 15.09%.

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.