Capital One Financial Analysts Boost Earnings Estimates for Ovintiv Inc. (TSE:OVV)

Ovintiv Inc. (TSE:OVV – Get Rating) – Equities researchers at Capital One Financial lifted their Q2 2022 earnings estimates for Ovintiv in a research note issued to investors on Wednesday, May 18th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $3.66 per share for the quarter, up from their previous forecast of $2.98. Capital One Financial currently has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Ovintiv’s Q3 2022 earnings at $3.71 EPS, Q4 2022 earnings at $3.96 EPS, FY2022 earnings at $14.11 EPS and FY2023 earnings at $21.33 EPS.

Separately, Raymond James set a C$52.00 price target on shares of Ovintiv and gave the company a “market perform” rating in a report on Friday, February 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$50.33.

Shares of TSE:OVV opened at C$60.56 on Monday. The company has a 50 day moving average of C$64.19 and a 200 day moving average of C$53.88. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 123.25. The stock has a market cap of C$15.63 billion and a P/E ratio of 14.37. Ovintiv has a 12 month low of C$28.10 and a 12 month high of C$73.50.

Ovintiv (TSE:OVV – Get Rating) last issued its earnings results on Thursday, February 24th. The company reported C$1.58 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.03 by C($0.45). The business had revenue of C$4.21 billion for the quarter, compared to analysts’ expectations of C$2.37 billion.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a $0.321 dividend. This is a positive change from Ovintiv’s previous quarterly dividend of $0.25. This represents a $1.28 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, June 14th. Ovintiv’s dividend payout ratio is currently 13.62%.

Ovintiv Company Profile (Get Rating)

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's 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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