Capital One Financial Boosts Earnings Estimates for Ovintiv

Ovintiv Inc. (NYSE:OVV) – Stock analysts at Capital One Financial increased their FY2024 earnings per share estimates for shares of Ovintiv in a report released on Tuesday, January 14th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $5.57 per share for the year, up from their previous forecast of $5.51. The consensus estimate for Ovintiv’s current full-year earnings is $5.47 per share. Capital One Financial also issued estimates for Ovintiv’s Q4 2024 earnings at $1.06 EPS, Q2 2025 earnings at $1.54 EPS, Q3 2025 earnings at $1.63 EPS, Q4 2025 earnings at $1.69 EPS and FY2026 earnings at $7.01 EPS.

A number of other analysts have also recently issued reports on the stock. Mizuho reduced their target price on shares of Ovintiv from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Citigroup reduced their price objective on shares of Ovintiv from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Scotiabank increased their target price on shares of Ovintiv from $50.00 to $53.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 18th. Evercore ISI reduced their price target on Ovintiv from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, Truist Financial increased their price objective on Ovintiv from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ovintiv has an average rating of “Moderate Buy” and a consensus price target of $56.81.

Ovintiv Stock Up 1.6 %

Shares of Ovintiv stock opened at $45.72 on Thursday. The stock has a 50-day simple moving average of $42.22 and a 200-day simple moving average of $42.48. Ovintiv has a 52-week low of $36.90 and a 52-week high of $55.95. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 6.06 and a beta of 2.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52.

Institutional Trading of Ovintiv

Several institutional investors and hedge funds have recently added to or reduced their stakes in OVV. Drive Wealth Management LLC boosted its stake in shares of Ovintiv by 2.5% in the 3rd quarter. Drive Wealth Management LLC now owns 10,309 shares of the company’s stock valued at $395,000 after purchasing an additional 251 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Ovintiv by 3.7% in the third quarter. CIBC Asset Management Inc now owns 7,937 shares of the company’s stock valued at $304,000 after buying an additional 280 shares during the period. UMB Bank n.a. boosted its stake in Ovintiv by 27.7% in the third quarter. UMB Bank n.a. now owns 1,317 shares of the company’s stock valued at $50,000 after acquiring an additional 286 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Ovintiv by 5.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,018 shares of the company’s stock worth $231,000 after acquiring an additional 298 shares during the period. Finally, Stifel Financial Corp grew its holdings in Ovintiv by 1.6% during the 3rd quarter. Stifel Financial Corp now owns 20,385 shares of the company’s stock worth $781,000 after acquiring an additional 322 shares during the period. 83.81% of the stock is owned by institutional investors.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, December 13th. Ovintiv’s dividend payout ratio is 15.92%.

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.