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Exploring Analyst Estimates for Ovintiv (OVV) Q2 Earnings, Beyond Revenue and EPS
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Wall Street analysts expect Ovintiv (OVV - Free Report) to post quarterly earnings of $1.91 per share in its upcoming report, which indicates a year-over-year increase of 87.3%. Revenues are expected to be $2.35 billion, up 1.4% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 15.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Ovintiv metrics that Wall Street analysts commonly model and monitor.
The average prediction of analysts places 'Revenues- Canadian Operations' at $990.98 million. The estimate suggests a change of +36.9% year over year.
The collective assessment of analysts points to an estimated 'Revenues- Corporate & other' of $46.46 million. The estimate indicates a change of -34.6% from the prior-year quarter.
It is projected by analysts that the 'Revenues- USA Operations' will reach $1.28 billion. The estimate indicates a change of -15.8% from the prior-year quarter.
Analysts forecast 'Production Volumes - Total - Total' to reach 614.81 thousands of barrels of oil equivalent per day. Compared to the current estimate, the company reported 615.30 thousands of barrels of oil equivalent per day in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Production Volumes - Natural Gas - Total' will likely reach . The estimate compares to the year-ago value of .
The consensus among analysts is that 'Production Volumes - Oil & Plant Condensate - Total' will reach 203.33 thousands of barrels of oil per day. The estimate compares to the year-ago value of 153.00 thousands of barrels of oil per day.
According to the collective judgment of analysts, 'Production Volumes - NGLs-Other - Total' should come in at 78.37 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 95.50 thousands of barrels of oil per day.
Analysts expect 'Per-Unit Prices, Excluding the Impact of Realized Gains (Losses) on Risk Management - Oil Price - Total Operations' to come in at $93.70 . The estimate is in contrast to the year-ago figure of $64.50 .
Analysts predict that the 'Per-Unit Prices, Excluding the Impact of Realized Gains (Losses) on Risk Management - NGLs-Other Price - Total Operations' will reach $24.50 . Compared to the present estimate, the company reported $18.28 in the same quarter last year.
The consensus estimate for 'Production Volumes - Total - USA Operations' stands at 254.60 thousands of barrels of oil equivalent per day. The estimate compares to the year-ago value of 314.70 thousands of barrels of oil equivalent per day.
Based on the collective assessment of analysts, 'Production Volumes - Oil & NGLs - Canadian Operations' should arrive at 97.35 thousands of barrels of oil per day. Compared to the current estimate, the company reported 76.90 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts' assessment points toward 'Production Volumes - Oil & NGLs - USA Operations' reaching 185.65 thousands of barrels of oil per day. Compared to the current estimate, the company reported 229.80 thousands of barrels of oil per day in the same quarter of the previous year.
Over the past month, Ovintiv shares have recorded returns of +5.8% versus the Zacks S&P 500 composite's -0.6% change. Based on its Zacks Rank #3 (Hold), OVV will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Exploring Analyst Estimates for Ovintiv (OVV) Q2 Earnings, Beyond Revenue and EPS
Wall Street analysts expect Ovintiv (OVV - Free Report) to post quarterly earnings of $1.91 per share in its upcoming report, which indicates a year-over-year increase of 87.3%. Revenues are expected to be $2.35 billion, up 1.4% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 15.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Ovintiv metrics that Wall Street analysts commonly model and monitor.
The average prediction of analysts places 'Revenues- Canadian Operations' at $990.98 million. The estimate suggests a change of +36.9% year over year.
The collective assessment of analysts points to an estimated 'Revenues- Corporate & other' of $46.46 million. The estimate indicates a change of -34.6% from the prior-year quarter.
It is projected by analysts that the 'Revenues- USA Operations' will reach $1.28 billion. The estimate indicates a change of -15.8% from the prior-year quarter.
Analysts forecast 'Production Volumes - Total - Total' to reach 614.81 thousands of barrels of oil equivalent per day. Compared to the current estimate, the company reported 615.30 thousands of barrels of oil equivalent per day in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Production Volumes - Natural Gas - Total' will likely reach . The estimate compares to the year-ago value of .
The consensus among analysts is that 'Production Volumes - Oil & Plant Condensate - Total' will reach 203.33 thousands of barrels of oil per day. The estimate compares to the year-ago value of 153.00 thousands of barrels of oil per day.
According to the collective judgment of analysts, 'Production Volumes - NGLs-Other - Total' should come in at 78.37 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 95.50 thousands of barrels of oil per day.
Analysts expect 'Per-Unit Prices, Excluding the Impact of Realized Gains (Losses) on Risk Management - Oil Price - Total Operations' to come in at $93.70 . The estimate is in contrast to the year-ago figure of $64.50 .
Analysts predict that the 'Per-Unit Prices, Excluding the Impact of Realized Gains (Losses) on Risk Management - NGLs-Other Price - Total Operations' will reach $24.50 . Compared to the present estimate, the company reported $18.28 in the same quarter last year.
The consensus estimate for 'Production Volumes - Total - USA Operations' stands at 254.60 thousands of barrels of oil equivalent per day. The estimate compares to the year-ago value of 314.70 thousands of barrels of oil equivalent per day.
Based on the collective assessment of analysts, 'Production Volumes - Oil & NGLs - Canadian Operations' should arrive at 97.35 thousands of barrels of oil per day. Compared to the current estimate, the company reported 76.90 thousands of barrels of oil per day in the same quarter of the previous year.
Analysts' assessment points toward 'Production Volumes - Oil & NGLs - USA Operations' reaching 185.65 thousands of barrels of oil per day. Compared to the current estimate, the company reported 229.80 thousands of barrels of oil per day in the same quarter of the previous year.
View all Key Company Metrics for Ovintiv here>>>Over the past month, Ovintiv shares have recorded returns of +5.8% versus the Zacks S&P 500 composite's -0.6% change. Based on its Zacks Rank #3 (Hold), OVV will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .