Zacks Research Issues Negative Forecast for Ovintiv Earnings

Ovintiv Inc. (NYSE:OVV) – Investment analysts at Zacks Research reduced their Q1 2028 EPS estimates for shares of Ovintiv in a note issued to investors on Wednesday, April 1st. Zacks Research analyst Team now expects that the company will post earnings of $1.67 per share for the quarter, down from their previous estimate of $1.87. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Ovintiv’s current full-year earnings is $5.59 per share.

Ovintiv (NYSE:OVV) last released its earnings results on Monday, February 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.41. Ovintiv had a return on equity of 12.00% and a net margin of 13.94%.The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company earned ($0.23) earnings per share.

A number of other equities research analysts have also commented on the company. Stephens upgraded Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company increased their price target on shares of Ovintiv from $42.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 19th. Roth Mkm raised their price target on shares of Ovintiv from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. The Goldman Sachs Group boosted their price objective on shares of Ovintiv from $49.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. began coverage on shares of Ovintiv in a research note on Wednesday, February 25th. They issued an “overweight” rating and a $58.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Ovintiv currently has an average rating of “Moderate Buy” and a consensus target price of $59.16.

Ovintiv Stock Up 3.0%

NYSE:OVV opened at $59.13 on Thursday. The firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 2.06 and a beta of 0.59. Ovintiv has a 1-year low of $29.80 and a 1-year high of $62.60. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The business’s fifty day moving average price is $51.11 and its 200 day moving average price is $43.37.

Institutional Trading of Ovintiv

Several large investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC bought a new position in Ovintiv during the third quarter valued at about $31,000. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Ovintiv during the 3rd quarter worth about $36,000. HM Payson & Co. acquired a new position in shares of Ovintiv during the 3rd quarter valued at about $36,000. Quent Capital LLC acquired a new position in shares of Ovintiv during the 3rd quarter valued at about $37,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Ovintiv in the 4th quarter valued at approximately $38,000. 83.81% of the stock is owned by institutional investors.

Insider Transactions at Ovintiv

In other news, EVP Meghan Nicole Eilers sold 11,582 shares of Ovintiv stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $54.78, for a total transaction of $634,461.96. Following the completion of the sale, the executive vice president directly owned 54,092 shares in the company, valued at $2,963,159.76. The trade was a 17.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard John Mayson sold 5,000 shares of Ovintiv stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total value of $261,950.00. Following the sale, the director owned 45,780 shares of the company’s stock, valued at approximately $2,398,414.20. This represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.70% of the stock is owned by company insiders.

Ovintiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, March 13th. Ovintiv’s dividend payout ratio is presently 24.79%.

About Ovintiv

Ovintiv Inc is a North American energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Formerly known as Encana Corporation, the company rebranded as Ovintiv in January 2020 and established its headquarters in Denver, Colorado. Ovintiv’s upstream portfolio spans multiple unconventional resource plays, reflecting a strategy centered on high-return projects and disciplined capital allocation.

The company’s core business activities include the acquisition and development of acreage in major shale basins across the United States and Canada.