Equities Analysts Offer Predictions for Ovintiv Inc.’s Q3 2023 Earnings (TSE:OVV)

Posted by on Jun 17th, 2023

Ovintiv Inc. (TSE:OVV – Get Rating) – Capital One Financial dropped their Q3 2023 EPS estimates for shares of Ovintiv in a report released on Wednesday, June 14th. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $1.86 per share for the quarter, down from their prior forecast of $1.90. The consensus estimate for Ovintiv’s current full-year earnings is $11.21 per share. Capital One Financial also issued estimates for Ovintiv’s Q4 2023 earnings at $2.01 EPS, FY2023 earnings at $7.77 EPS, Q1 2024 earnings at $1.81 EPS, Q2 2024 earnings at $1.76 EPS, Q3 2024 earnings at $1.74 EPS, Q4 2024 earnings at $1.76 EPS and FY2024 earnings at $7.06 EPS.

Separately, Royal Bank of Canada dropped their price target on shares of Ovintiv from C$57.00 to C$55.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 4th.

Ovintiv Stock Up 0.6 %

OVV stock opened at C$49.95 on Friday. Ovintiv has a 12 month low of C$43.23 and a 12 month high of C$78.44. The firm has a market cap of C$12.21 billion, a PE ratio of 2.08, a P/E/G ratio of 0.05 and a beta of 3.57. The company has a debt-to-equity ratio of 59.26, a current ratio of 0.53 and a quick ratio of 0.51. The firm has a 50 day simple moving average of C$48.26 and a 200 day simple moving average of C$57.30.

Ovintiv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 30th will be given a $0.406 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 3.25%. This is a positive change from Ovintiv’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, June 14th. Ovintiv’s dividend payout ratio (DPR) is presently 6.73%.

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.

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Earnings History and Estimates for Ovintiv (TSE:OVV)

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