Q3 2024 EPS Estimates for Ovintiv Inc. Decreased by Capital One Financial (NYSE:OVV)

Ovintiv Inc. (NYSE:OVV) – Equities researchers at Capital One Financial lowered their Q3 2024 earnings per share (EPS) estimates for shares of Ovintiv in a research note issued on Thursday, August 15th. Capital One Financial analyst P. Johnston now anticipates that the company will post earnings per share of $1.58 for the quarter, down from their previous forecast of $1.67. The consensus estimate for Ovintiv’s current full-year earnings is $5.70 per share. Capital One Financial also issued estimates for Ovintiv’s Q4 2024 earnings at $1.65 EPS, FY2024 earnings at $5.89 EPS and Q1 2025 earnings at $1.67 EPS.

OVV has been the topic of several other research reports. Bank of America reissued a “neutral” rating and set a $55.00 price target on shares of Ovintiv in a research note on Friday, June 14th. Evercore ISI restated an “outperform” rating and issued a $60.00 price target on shares of Ovintiv in a research report on Wednesday, July 10th. Wolfe Research started coverage on Ovintiv in a research note on Thursday, July 18th. They set an “outperform” rating and a $65.00 price target for the company. Mizuho increased their price objective on shares of Ovintiv from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada dropped their target price on shares of Ovintiv from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.56.

Ovintiv Price Performance

Ovintiv stock opened at $43.20 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.44 and a current ratio of 0.44. Ovintiv has a one year low of $38.99 and a one year high of $55.95. The business has a fifty day moving average of $45.83 and a two-hundred day moving average of $48.16. The company has a market cap of $11.53 billion, a P/E ratio of 6.03, a price-to-earnings-growth ratio of 6.97 and a beta of 2.63.

Institutional Trading of Ovintiv

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Ovintiv by 7.5% during the first quarter. GAMMA Investing LLC now owns 3,170 shares of the company’s stock worth $165,000 after acquiring an additional 220 shares during the last quarter. Covestor Ltd raised its holdings in Ovintiv by 23.1% in the first quarter. Covestor Ltd now owns 1,559 shares of the company’s stock valued at $81,000 after buying an additional 293 shares during the period. Geneos Wealth Management Inc. raised its holdings in Ovintiv by 53.4% in the first quarter. Geneos Wealth Management Inc. now owns 862 shares of the company’s stock valued at $45,000 after buying an additional 300 shares during the period. Blue Trust Inc. lifted its position in Ovintiv by 24.0% during the second quarter. Blue Trust Inc. now owns 1,793 shares of the company’s stock valued at $93,000 after buying an additional 347 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Ovintiv by 2.1% during the second quarter. Signaturefd LLC now owns 18,288 shares of the company’s stock worth $857,000 after buying an additional 376 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ovintiv

In other Ovintiv news, Director Howard John Mayson sold 4,000 shares of Ovintiv stock in a transaction on Friday, May 31st. The shares were sold at an average price of $51.14, for a total value of $204,560.00. Following the transaction, the director now owns 45,279 shares in the company, valued at approximately $2,315,568.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Ovintiv Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.30 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.78%. Ovintiv’s dividend payout ratio is presently 16.76%.

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.