Analysts Estimate Report : What to Look Out for Ovintiv (NYSE:OVV)

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Earnings results for Ovintiv (NYSE:OVV)

Ovintiv last posted its quarterly earnings data on February 17th, 2021. The reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The business earned $1.53 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Ovintiv has generated $3.29 earnings per share over the last year. Ovintiv has confirmed that its next quarterly earnings report will be published on Wednesday, April 28th, 2021.

Analyst Opinion on Ovintiv (NYSE:OVV)

21 Wall Street analysts have issued ratings and price targets for Ovintiv in the last 12 months. Their average twelve-month price target is $23.80, predicting that the stock has a possible upside of 3.46%. The high price target for OVV is $43.00 and the low price target for OVV is $12.00. There are currently 2 sell ratings, 8 hold ratings and 11 buy ratings for the stock, resulting in a consensus rating of “Hold.”

Ovintiv has received a consensus rating of Hold. The company’s average rating score is 2.43, and is based on 11 buy ratings, 8 hold ratings, and 2 sell ratings. According to analysts’ consensus price target of $23.80, Ovintiv has a forecasted upside of 3.5% from its current price of $23.00. Ovintiv has been the subject of 12 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Ovintiv (NYSE:OVV)

Ovintiv pays a meaningful dividend of 1.68%, higher than the bottom 25% of all stocks that pay dividends. Ovintiv has only been increasing its dividend for 1 years. The dividend payout ratio of Ovintiv is 11.55%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Ovintiv will have a dividend payout ratio of 42.70% next year. This indicates that Ovintiv will be able to sustain or increase its dividend.

Insiders buying/selling: Ovintiv (NYSE:OVV)

In the past three months, Ovintiv insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $188,544.00 in company stock. Only 1.28% of the stock of Ovintiv is held by insiders. 70.04% of the stock of Ovintiv is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Ovintiv (NYSE:OVV

Earnings for Ovintiv are expected to grow by 423.53% in the coming year, from $0.17 to $0.89 per share. The P/E ratio of Ovintiv is -1.09, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Ovintiv is -1.09, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Ovintiv has a P/B Ratio of 0.60. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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