We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ovintiv (OVV) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Read MoreHide Full Article
For the quarter ended December 2023, Ovintiv (OVV - Free Report) reported revenue of $3.17 billion, down 1.4% over the same period last year. EPS came in at $2.35, compared to $0.91 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.75 billion, representing a surprise of +15.03%. The company delivered an EPS surprise of +21.13%, with the consensus EPS estimate being $1.94.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ovintiv performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production Per Day - Total Production: 605.2 millions of barrels of oil equivalent compared to the 578.2 millions of barrels of oil equivalent average estimate based on eight analysts.
Production Per Day - Total Natural Gas: 1645 millions of cubic feet versus 1597.15 millions of cubic feet estimated by six analysts on average.
Production Per Day - Total Oil: 194.1 millions of barrels of oil compared to the 171.01 millions of barrels of oil average estimate based on five analysts.
Production Per Day - Total Oil & NGL: 331.1 millions of barrels of oil versus 309.61 millions of barrels of oil estimated by four analysts on average.
Production Per Day - Total NGL: 137 millions of barrels of oil compared to the 132.39 millions of barrels of oil average estimate based on four analysts.
Production Per Day - Total USA Operations: 367.1 millions of barrels of oil equivalent versus 342.28 millions of barrels of oil equivalent estimated by three analysts on average.
Production Per Day - Canadian Operations - Total Oil & NGL: 51.2 millions of barrels of oil versus the three-analyst average estimate of 42.85 millions of barrels of oil.
Production Per Day - USA Operations - Total Oil & NGL: 279.9 millions of barrels of oil versus the three-analyst average estimate of 266.76 millions of barrels of oil.
Production Per Day - Canadian Operations - NGL-Plant Condensate: 34.8 millions of barrels of oil compared to the 43.98 millions of barrels of oil average estimate based on three analysts.
Revenues- Canadian Operations: $564 million versus $545.03 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.2% change.
Revenues- USA Operations: $1.66 billion compared to the $1.52 billion average estimate based on three analysts. The reported number represents a change of +33.2% year over year.
Revenues- Market Optimization: $594 million compared to the $751.56 million average estimate based on two analysts. The reported number represents a change of -34.7% year over year.
Shares of Ovintiv have returned +7% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Ovintiv (OVV) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, Ovintiv (OVV - Free Report) reported revenue of $3.17 billion, down 1.4% over the same period last year. EPS came in at $2.35, compared to $0.91 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.75 billion, representing a surprise of +15.03%. The company delivered an EPS surprise of +21.13%, with the consensus EPS estimate being $1.94.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ovintiv performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Production Per Day - Total Production: 605.2 millions of barrels of oil equivalent compared to the 578.2 millions of barrels of oil equivalent average estimate based on eight analysts.
- Production Per Day - Total Natural Gas: 1645 millions of cubic feet versus 1597.15 millions of cubic feet estimated by six analysts on average.
- Production Per Day - Total Oil: 194.1 millions of barrels of oil compared to the 171.01 millions of barrels of oil average estimate based on five analysts.
- Production Per Day - Total Oil & NGL: 331.1 millions of barrels of oil versus 309.61 millions of barrels of oil estimated by four analysts on average.
- Production Per Day - Total NGL: 137 millions of barrels of oil compared to the 132.39 millions of barrels of oil average estimate based on four analysts.
- Production Per Day - Total USA Operations: 367.1 millions of barrels of oil equivalent versus 342.28 millions of barrels of oil equivalent estimated by three analysts on average.
- Production Per Day - Canadian Operations - Total Oil & NGL: 51.2 millions of barrels of oil versus the three-analyst average estimate of 42.85 millions of barrels of oil.
- Production Per Day - USA Operations - Total Oil & NGL: 279.9 millions of barrels of oil versus the three-analyst average estimate of 266.76 millions of barrels of oil.
- Production Per Day - Canadian Operations - NGL-Plant Condensate: 34.8 millions of barrels of oil compared to the 43.98 millions of barrels of oil average estimate based on three analysts.
- Revenues- Canadian Operations: $564 million versus $545.03 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.2% change.
- Revenues- USA Operations: $1.66 billion compared to the $1.52 billion average estimate based on three analysts. The reported number represents a change of +33.2% year over year.
- Revenues- Market Optimization: $594 million compared to the $751.56 million average estimate based on two analysts. The reported number represents a change of -34.7% year over year.
View all Key Company Metrics for Ovintiv here>>>Shares of Ovintiv have returned +7% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.