Analysts Anticipate Ovintiv Inc. (NYSE:OVV) to Post $1.81 Earnings Per Share

Equities analysts forecast that Ovintiv Inc. (NYSE:OVV) will announce $1.81 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ovintiv’s earnings, with the highest EPS estimate coming in at $2.13 and the lowest estimate coming in at $1.60. Ovintiv reported earnings per share of $0.70 in the same quarter last year, which would indicate a positive year-over-year growth rate of 158.6%. The business is scheduled to announce its next earnings results on Wednesday, February 16th.

According to Zacks, analysts expect that Ovintiv will report full-year earnings of $5.47 per share for the current fiscal year, with EPS estimates ranging from $5.31 to $5.58. For the next fiscal year, analysts anticipate that the business will report earnings of $8.48 per share, with EPS estimates ranging from $7.34 to $9.80. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that follow Ovintiv.

Ovintiv (NYSE:OVV) last announced its earnings results on Tuesday, November 2nd. The company reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. Ovintiv had a positive return on equity of 29.47% and a negative net margin of 8.50%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the firm earned ($0.03) EPS.

A number of brokerages recently commented on OVV. Truist Securities raised their target price on Ovintiv from $50.00 to $53.00 in a report on Friday. Seaport Global Securities began coverage on Ovintiv in a report on Thursday, September 23rd. They set a “buy” rating and a $42.00 price target on the stock. Morgan Stanley raised their price target on Ovintiv from $46.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, October 6th. Zacks Investment Research cut Ovintiv from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a report on Tuesday, September 28th. Finally, Mizuho decreased their price target on Ovintiv from $56.00 to $54.00 in a report on Monday, January 3rd. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $38.57.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OVV. Moors & Cabot Inc. purchased a new position in Ovintiv in the third quarter worth about $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Ovintiv during the third quarter valued at approximately $33,000. Huntington National Bank purchased a new position in shares of Ovintiv during the third quarter valued at approximately $36,000. FORA Capital LLC purchased a new position in shares of Ovintiv during the second quarter valued at approximately $42,000. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Ovintiv by 481.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,297 shares of the company’s stock valued at $43,000 after buying an additional 1,074 shares during the period. Institutional investors own 69.99% of the company’s stock.

Ovintiv stock traded up $2.60 during trading on Friday, reaching $41.33. The company had a trading volume of 3,858,514 shares, compared to its average volume of 3,151,066. Ovintiv has a 52 week low of $15.51 and a 52 week high of $41.34. The firm’s 50-day simple moving average is $35.03 and its 200 day simple moving average is $32.08. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of -18.21 and a beta of 3.60. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.26.

The business also recently declared a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were given a $0.14 dividend. The ex-dividend date was Tuesday, December 14th. This represents a $0.56 annualized dividend and a yield of 1.35%. Ovintiv’s dividend payout ratio is currently -24.67%.

About Ovintiv

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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Earnings History and Estimates for Ovintiv (NYSE:OVV)

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