Zacks Research Has Negative Estimate for Ovintiv Q1 Earnings

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

A number of other analysts have also recently commented on the stock. Stephens upgraded shares of Ovintiv to a “hold” rating in a research report on Tuesday, February 3rd. Barclays lifted their target price on Ovintiv from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Scotiabank boosted their target price on Ovintiv from $58.00 to $65.00 and gave the company a “sector outperform” rating in a research note on Thursday, March 19th. The Goldman Sachs Group raised their price target on Ovintiv from $49.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, Roth Mkm lifted their price objective on Ovintiv from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Ovintiv has a consensus rating of “Moderate Buy” and an average price target of $59.16.

Ovintiv Stock Down 3.3%

Shares of NYSE:OVV opened at $57.39 on Thursday. The company has a 50 day moving average price of $50.74 and a two-hundred day moving average price of $43.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $16.26 billion, a PE ratio of 11.86, a PEG ratio of 2.13 and a beta of 0.69. Ovintiv has a 52 week low of $29.80 and a 52 week high of $62.60.

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

Hedge Funds Weigh In On Ovintiv

Several hedge funds have recently modified their holdings of OVV. McIlrath & Eck LLC acquired a new stake in shares of Ovintiv in the third quarter valued at about $31,000. HM Payson & Co. acquired a new position in shares of Ovintiv during the 3rd quarter worth approximately $36,000. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Ovintiv in the 3rd quarter valued at approximately $36,000. Quent Capital LLC bought a new position in shares of Ovintiv in the third quarter valued at $37,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Ovintiv during the 4th quarter worth about $38,000. Institutional investors own 83.81% of the company’s stock.

Insider Transactions at Ovintiv

In related news, EVP Meghan Nicole Eilers sold 11,582 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $54.78, for a total transaction of $634,461.96. Following the completion of the transaction, the executive vice president owned 54,092 shares in the company, valued at approximately $2,963,159.76. This represents a 17.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Howard John Mayson sold 5,000 shares of Ovintiv stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.39, for a total transaction of $261,950.00. Following the completion of the sale, the director owned 45,780 shares in the company, valued at $2,398,414.20. The trade was 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 currently 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 issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, March 13th. Ovintiv’s dividend payout ratio is 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.