Tue Sep 17 05:41:47 UTC 2024: ## Ovintiv’s Earnings Forecast Lowered by Zacks Research

**Calgary, AB (MarketBeat News)** – Ovintiv Inc. (TSE:OVV) saw its FY2024 earnings estimates reduced by analysts at Zacks Research. The firm now anticipates Ovintiv will post earnings of $7.48 per share for the year, down from their previous estimate of $7.49. This revised forecast falls below the current consensus estimate of $9.06 per share.

Zacks Research also issued estimates for Ovintiv’s Q3 2025 earnings at $2.09 EPS and Q2 2026 earnings at $1.71 EPS.

Despite the lowered forecast, Ovintiv has been the subject of positive reports from other analysts. Wolfe Research upgraded Ovintiv to a “strong-buy” rating in July, followed by Evercore ISI who raised their rating from “hold” to “strong-buy.”

Ovintiv’s shares opened at C$53.24 on Monday, with a market cap of C$14.03 billion. The company boasts a P/E ratio of 5.53, a P/E/G ratio of 0.05, and a beta of 2.64.

The company recently reported C$1.69 earnings per share for the quarter ending July 30th, exceeding the consensus estimate of C$1.67. Revenue for the quarter came in at C$3.13 billion, compared to the consensus estimate of C$3.46 billion.

Ovintiv also announced a quarterly dividend of $0.41 per share, payable on September 27th to shareholders of record on the same date. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.08%.

Ovintiv Inc. is an energy company engaged in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The company operates in the United States and Canada, with key assets in the Permian Basin, Anadarko Basin, and Montney formation.

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