Q1 2023 Earnings Estimate for Ovintiv Inc. (TSE:OVV) Issued By Capital One Financial

Ovintiv Inc. (TSE:OVV – Get Rating) – Equities researchers at Capital One Financial decreased their Q1 2023 EPS estimates for shares of Ovintiv in a research report issued to clients and investors on Tuesday, February 28th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings of $2.53 per share for the quarter, down from their previous estimate of $2.81. The consensus estimate for Ovintiv’s current full-year earnings is $16.44 per share. Capital One Financial also issued estimates for Ovintiv’s Q2 2023 earnings at $2.78 EPS, Q3 2023 earnings at $3.01 EPS and Q4 2023 earnings at $3.02 EPS.

Separately, Royal Bank of Canada lowered their target price on Ovintiv from C$58.00 to C$57.00 and set a “sector perform” rating for the company in a report on Wednesday.

Ovintiv Price Performance

TSE OVV opened at C$62.41 on Thursday. The company has a market cap of C$15.49 billion, a PE ratio of 3.27, a P/E/G ratio of 0.05 and a beta of 3.56. The firm’s 50 day moving average price is C$64.71 and its 200-day moving average price is C$67.62. The company has a debt-to-equity ratio of 58.01, a quick ratio of 0.51 and a current ratio of 0.61. Ovintiv has a 52-week low of C$48.94 and a 52-week high of C$79.28.

Ovintiv Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 31st will be paid a $0.333 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $1.33 annualized dividend and a yield of 2.13%. Ovintiv’s dividend payout ratio (DPR) is presently 7.12%.

Ovintiv Company Profile

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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.