Ovintiv Inc. Expected to Earn Q4 2021 Earnings of $2.13 Per Share (NYSE:OVV)

Ovintiv Inc. (NYSE:OVV) – Equities researchers at Seaport Res Ptn lifted their Q4 2021 earnings per share estimates for shares of Ovintiv in a report released on Wednesday, January 5th. Seaport Res Ptn analyst N. Pope now forecasts that the company will post earnings of $2.13 per share for the quarter, up from their previous forecast of $2.12. Seaport Res Ptn currently has a “Buy” rating on the stock. Seaport Res Ptn also issued estimates for Ovintiv’s Q1 2022 earnings at $2.45 EPS, Q4 2022 earnings at $2.43 EPS and FY2022 earnings at $9.80 EPS.

A number of other equities analysts also recently commented on OVV. Seaport Global Securities started coverage on Ovintiv in a research note on Thursday, September 23rd. They issued a “buy” rating and a $42.00 target price for the company. Morgan Stanley boosted their price objective on Ovintiv from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 6th. Truist Securities boosted their target price on Ovintiv from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, October 7th. Truist upped their price target on Ovintiv from $44.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, October 7th. Finally, Zacks Investment Research cut Ovintiv from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a report on Tuesday, September 28th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $37.95.

Shares of Ovintiv stock opened at $37.81 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.26. The firm has a market cap of $9.84 billion, a P/E ratio of -16.66 and a beta of 3.60. Ovintiv has a fifty-two week low of $15.51 and a fifty-two week high of $40.65. The business has a 50-day moving average price of $34.89 and a 200 day moving average price of $31.89. Ovintiv (NYSE:OVV) last issued its earnings results on Tuesday, November 2nd. The company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. Ovintiv had a positive return on equity of 29.47% and a negative net margin of 8.50%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm earned ($0.03) earnings per share.

The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, December 14th. Ovintiv’s dividend payout ratio is presently -24.67%.

A number of hedge funds and other institutional investors have recently modified their holdings of OVV. Amundi Pioneer Asset Management Inc. boosted its stake in Ovintiv by 318.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 797,623 shares of the company’s stock worth $5,775,000 after acquiring an additional 606,969 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Ovintiv by 26.6% in the second quarter. PNC Financial Services Group Inc. now owns 4,817 shares of the company’s stock valued at $151,000 after purchasing an additional 1,012 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Ovintiv by 48.8% in the second quarter. Sei Investments Co. now owns 59,584 shares of the company’s stock valued at $1,872,000 after purchasing an additional 19,535 shares during the last quarter. WINTON GROUP Ltd grew its position in Ovintiv by 74.2% during the second quarter. WINTON GROUP Ltd now owns 62,204 shares of the company’s stock valued at $1,958,000 after buying an additional 26,493 shares during the period. Finally, Rafferty Asset Management LLC bought a new position in Ovintiv during the second quarter valued at about $8,038,000. 70.12% of the stock is currently owned by institutional investors and hedge funds.

About Ovintiv

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.

Featured Article: Marijuana Stocks Future Looks Bright

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Ovintiv right now?

Before you consider Ovintiv, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Ovintiv wasn’t on the list.

While Ovintiv currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here