Ovintiv Inc reports results for the quarter ended in September 30 - Earnings Summary

Ovintiv

08/11/2024 04:38

* Ovintiv Inc  OVV.N  reported quarterly adjusted earnings
of
$1.85​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of $1.74.  The mean expectation of eighteen analysts for the
quarter was for earnings of $1.14 per share. Wall Street
expected results to range from 99 cents to $1.38 per share.
    * Revenue fell 12.3% to $2.32 billion from a year ago;
analysts
expected $2.10 billion. 
    * Ovintiv Inc's reported EPS for the quarter was $1.92​.
    * The company reported quarterly net income of $507 million.
    * Ovintiv Inc shares had risen by 9.6% this quarter and
lost 4.4%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 29.8%
in the last three months.​ 
    * In the last 30 days, seven analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 18 "strong buy" or "buy," 8
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
exploration and production peer group is also "buy"

Wall Street's median 12-month price target for Ovintiv Inc is
$55.00 
This summary was machine generated from LSEG data November 8 at
04:38 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      1.14           1.85           Beat
 Jun. 30 2024      1.31           1.23           Missed
 Mar. 31 2024      1.36           1.43           Beat
 Dec. 31 2023      1.95           2.35           Beat