Q2 2023 EPS Estimates for Ovintiv Inc. (TSE:OVV) Lifted by Analyst

Posted by on Jun 24th, 2023

Ovintiv Inc. (TSE:OVV – Get Rating) – Research analysts at Seaport Res Ptn lifted their Q2 2023 earnings estimates for shares of Ovintiv in a research note issued to investors on Wednesday, June 21st. Seaport Res Ptn analyst N. Pope now expects that the company will post earnings per share of $1.64 for the quarter, up from their prior forecast of $1.60. The consensus estimate for Ovintiv’s current full-year earnings is $10.67 per share. Seaport Res Ptn also issued estimates for Ovintiv’s Q3 2023 earnings at $2.07 EPS, Q4 2023 earnings at $2.39 EPS, Q1 2024 earnings at $2.88 EPS, Q2 2024 earnings at $2.49 EPS, Q3 2024 earnings at $2.71 EPS, Q4 2024 earnings at $3.06 EPS and FY2024 earnings at $11.14 EPS.

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

Ovintiv Trading Down 1.0 %

TSE:OVV opened at C$46.16 on Friday. Ovintiv has a one year low of C$43.23 and a one year high of C$78.44. The company has a debt-to-equity ratio of 59.26, a quick ratio of 0.51 and a current ratio of 0.53. The firm has a market cap of C$12.75 billion, a P/E ratio of 2.04, a P/E/G ratio of 0.05 and a beta of 3.54. The firm has a 50-day simple moving average of C$47.78 and a 200-day simple moving average of C$56.39.

Ovintiv (TSE:OVV – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The company reported C$2.46 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.47 by C($0.01). Ovintiv had a net margin of 32.46% and a return on equity of 69.41%. The company had revenue of C$3.45 billion for the quarter, compared to the consensus estimate of C$3.16 billion.

Ovintiv Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 30th will be issued a $0.406 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $1.62 annualized dividend and a dividend yield of 3.52%. This is a positive change from Ovintiv’s previous quarterly dividend of $0.33. Ovintiv’s payout ratio is currently 7.06%.

About Ovintiv

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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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