Ovintiv Inc. Expected to Post Q1 2024 Earnings of $1.90 Per Share (TSE:OVV)

Ovintiv Inc. (TSE:OVV) – Research analysts at Zacks Research upped their Q1 2024 EPS estimates for shares of Ovintiv in a research note issued to investors on Tuesday, April 2nd. Zacks Research analyst R. Department now anticipates that the company will earn $1.90 per share for the quarter, up from their previous estimate of $1.89. The consensus estimate for Ovintiv’s current full-year earnings is $9.44 per share. Zacks Research also issued estimates for Ovintiv’s Q2 2024 earnings at $1.51 EPS, Q3 2024 earnings at $2.06 EPS, Q4 2024 earnings at $1.98 EPS, FY2024 earnings at $7.45 EPS, Q1 2025 earnings at $2.29 EPS, Q2 2025 earnings at $1.83 EPS, Q3 2025 earnings at $1.66 EPS and FY2025 earnings at $8.23 EPS.

Ovintiv (TSE:OVV) last posted its quarterly earnings data on Tuesday, February 27th. The company reported C$3.20 earnings per share 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 analysts’ expectations of C$3.69 billion.

Separately, Royal Bank of Canada raised their price target on shares of Ovintiv from C$48.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th.

Ovintiv Trading Up 1.7 %

OVV opened at C$75.11 on Thursday. Ovintiv has a twelve month low of C$43.23 and a twelve month high of C$75.42. The company has a quick ratio of 0.51, a current ratio of 0.60 and a debt-to-equity ratio of 64.45. The company has a fifty day moving average of C$64.51 and a 200-day moving average of C$62.19. The stock has a market cap of C$20.20 billion, a PE ratio of 6.99, a price-to-earnings-growth ratio of 0.05 and a beta of 2.67.

Ovintiv Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were paid a $0.403 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, March 14th. Ovintiv’s dividend payout ratio (DPR) is 15.08%.

About Ovintiv

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.