Ovintiv Inc. (TSE: OVV – Get a rating) – Stock analysts at Truist Financial dropped their fiscal 2023 earnings per share (EPS) estimates for Ovintiv in a research report released to clients and investors on Wednesday, April 6. Truist Financial analyst N. Dingmann now expects the company to earn $12.62 per share for the year, down from his previous forecast of $12.68.
Other research analysts have also recently published research reports on the company. Tudor Pickering raised its price target on Ovintiv to C$54.00 and gave the company a “buy” rating in a Friday, January 21 report. Goldman Sachs Group reaffirmed a “buy” rating and issued a target price of C$47.00 on Ovintiv shares in a research report on Tuesday, January 4. Capital One Financial upgraded Ovintiv from a “weighted” rating to an “overweight” rating in a Wednesday, March 23 research note. Raymond James set a price target of C$52.00 on Ovintiv and gave the stock a “market performance” rating in a research note on Friday, February 25. Finally, Tudor Pickering & Holt raised its price target on Ovintiv from C$51.00 to C$54.00 and gave the stock a “buy” rating in a Friday, January 21 research report. Three analysts gave the stock a hold rating and nine gave the company a buy rating. According to MarketBeat, the stock has a consensus buy quote and a consensus price target of C$50.33.
Ovintiv stock opened at C$64.81 on Friday. The company has a market capitalization of C$16.77 billion and a P/E ratio of 9.75. The stock has a fifty-day moving average price of C$58.15 and a 200-day moving average price of C$49.26. Ovintiv has a 52-week low of C$26.61 and a 52-week high of C$70.24. The company has a current ratio of 0.58, a quick ratio of 0.57 and a debt ratio of 113.84.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31. Shareholders of record on Tuesday, March 15 received a dividend of $0.254. This is an increase from Ovintiv’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, March 14. This represents a dividend of $1.02 on an annualized basis and a yield of 1.57%. Ovintiv’s payout ratio is currently 7.03%.
About Ovintiv (Get a rating)
Ovintiv Inc, together with its subsidiaries, is engaged in the exploration, development, production and marketing of natural gas, petroleum 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 northeastern British Columbia and northwestern Alberta.
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