Wall Street brokerages predict that Ovintiv (NYSE:OVV) will post ($0.18) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Ovintiv’s earnings. The highest EPS estimate is $0.10 and the lowest is ($0.36). Ovintiv posted earnings of $0.75 per share in the same quarter last year, which would suggest a negative year over year growth rate of 124%. The firm is expected to issue its next earnings results on Thursday, October 29th.

On average, analysts expect that Ovintiv will report full-year earnings of ($0.42) per share for the current year, with EPS estimates ranging from ($0.74) to ($0.02). For the next fiscal year, analysts anticipate that the business will post earnings of $0.18 per share, with EPS estimates ranging from ($0.93) to $1.17. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Ovintiv.

Ovintiv (NYSE:OVV) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.02). The firm had revenue of $726.00 million for the quarter, compared to analysts’ expectations of $1.28 billion. Ovintiv had a negative net margin of 56.12% and a positive return on equity of 3.58%.

OVV has been the topic of several research analyst reports. TheStreet lowered Ovintiv from a “c” rating to a “d” rating in a research report on Monday, August 31st. SunTrust Banks lifted their target price on Ovintiv from $7.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, June 19th. TD Securities lifted their target price on Ovintiv from $9.00 to $11.00 and gave the company a “hold” rating in a research note on Wednesday, July 29th. BMO Capital Markets upgraded Ovintiv from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $6.50 to $13.00 in a research note on Monday, June 29th. Finally, MKM Partners lowered their target price on Ovintiv from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the company’s stock. Ovintiv currently has a consensus rating of “Hold” and an average target price of $13.26.

OVV opened at $9.15 on Friday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -0.62 and a beta of 4.06. Ovintiv has a 52 week low of $2.10 and a 52 week high of $28.75. The business’s 50 day moving average is $10.80 and its two-hundred day moving average is $8.05. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.25.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.094 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Monday, September 14th. Ovintiv’s dividend payout ratio (DPR) is 11.55%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Advisers LP boosted its stake in Ovintiv by 8.1% during the 2nd quarter. Two Sigma Advisers LP now owns 3,142,489 shares of the company’s stock valued at $30,011,000 after purchasing an additional 235,600 shares in the last quarter. Principal Financial Group Inc. bought a new position in Ovintiv during the 2nd quarter valued at $401,000. Nuveen Asset Management LLC bought a new position in Ovintiv during the 2nd quarter valued at $11,663,000. Charles Schwab Investment Management Inc. bought a new position in Ovintiv during the 2nd quarter valued at $16,425,000. Finally, California State Teachers Retirement System bought a new position in Ovintiv during the 2nd quarter valued at $3,770,000. 71.83% of the stock is owned by hedge funds and other institutional investors.

About Ovintiv

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Earnings History and Estimates for Ovintiv (NYSE:OVV)

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