Zacks Research Has Bullish Outlook for Ovintiv Q3 Earnings

Ovintiv Inc. (NYSE:OVV) – Research analysts at Zacks Research upped their Q3 2028 earnings per share (EPS) estimates for shares of Ovintiv in a report released on Wednesday, September 30th. Zacks Research analyst Team now expects that the company will post earnings of $1.54 per share for the quarter, up from their previous estimate of $1.51. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Ovintiv’s current full-year earnings is $7.29 per share.

Other research analysts have also recently issued research reports about the company. Truist Financial reiterated a “buy” rating and issued a $73.00 price objective (up from $66.00) on shares of Ovintiv in a research report on Monday, July 27th. Wall Street Zen upgraded shares of Ovintiv from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings upgraded shares of Ovintiv from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Stifel Nicolaus set a $92.00 price objective on shares of Ovintiv and gave the company a “buy” rating in a research note on Wednesday, September 9th. Finally, Royal Bank Of Canada boosted their price objective on shares of Ovintiv from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.15.

Ovintiv Stock Up 3.7%

Ovintiv stock opened at $59.94 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 1.01. Ovintiv has a 1-year low of $35.47 and a 1-year high of $67.51. The company has a market cap of $16.51 billion, a PE ratio of 16.93 and a beta of 0.65. The stock’s 50 day moving average price is $62.84 and its 200 day moving average price is $59.04.

Ovintiv (NYSE:OVV) last issued its earnings results on Thursday, July 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.20). The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Ovintiv had a return on equity of 14.84% and a net margin of 9.43%.

Ovintiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, September 15th. Ovintiv’s payout ratio is 33.90%.

Insider Activity at Ovintiv

In related news, EVP Rachel Moore sold 7,753 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $63.32, for a total value of $490,919.96. Following the sale, the executive vice president directly owned 72,530 shares in the company, valued at $4,592,599.60. The trade was a 9.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ovintiv

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steph & Co. purchased a new position in shares of Ovintiv during the 1st quarter worth approximately $29,000. Aberdeen Wealth Management LLC acquired a new stake in Ovintiv during the 2nd quarter valued at $32,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Ovintiv during the second quarter worth $32,000. Markowski Investments acquired a new position in shares of Ovintiv in the second quarter worth $39,000. Finally, Root Financial Partners LLC lifted its position in shares of Ovintiv by 43.2% in the first quarter. Root Financial Partners LLC now owns 918 shares of the company’s stock valued at $54,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.

Key Stories Impacting Ovintiv

Here are the key news stories impacting Ovintiv this week:

• Positive Sentiment: Higher price target and bullish rating: National Bank Financial raised its price target for Ovintiv from $83 to $91 and upgraded or reaffirmed an “outperform” view, implying substantial potential appreciation from recent trading levels. Ovintiv Stock Price Expected to Rise, National Bank Financial Analyst Says
• Positive Sentiment: Share buyback renewed: Ovintiv received approval to renew its normal-course issuer bid. The program supports the company’s plan to return 50% to 100% of annual non-GAAP free cash flow through dividends and repurchases, which can reduce shares outstanding and enhance per-share value. Reports also reference a potential buyback of up to 26.97 million shares. Ovintiv Renews Annual Share Buy-Back Program
• Positive Sentiment: Forecast revisions moved upward: Zacks Research modestly increased its EPS estimates across several periods, including fiscal 2026 to $6.71 from $6.70, fiscal 2027 to $5.24 from $5.11, and fiscal 2028 to $6.67 from $6.57. Quarterly estimates for 2027 and 2028 were also raised, signaling slightly improved earnings expectations.
• Neutral Sentiment: Analyst conviction remains mixed: Although National Bank Financial is bullish, Zacks Research maintains a “Hold” rating. The upward EPS changes are relatively small, so they provide incremental support rather than a major change in Ovintiv’s outlook.

About Ovintiv

Ovintiv Inc (NYSE: OVV) is an energy company engaged in the exploration, development, production and operation of oil and natural gas properties. Its production includes crude oil, condensate, plant condensate, natural gas liquids and natural gas.

The company’s operations are concentrated in North America, with core assets in the Permian Basin, Uinta Basin and Anadarko Basin in the United States, as well as the Montney region in western Canada. Ovintiv also owns and operates related processing, gathering and other midstream infrastructure that supports the production and transportation of its energy products.

Ovintiv was formerly known as Encana Corporation and adopted its current name in 2020.