Insights Into Ovintiv (OVV) Q4: Wall Street Projections for Key Metrics

Wall Street analysts forecast that Ovintiv (OVV) will report quarterly earnings of $1.11 per share in its upcoming release, pointing to a year-over-year decline of 52.8%. It is anticipated that revenues will amount to $2.32 billion, exhibiting a decline of 26.8% compared to the year-ago quarter.Over the last 30 days, there has been an upward revision of 1.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.That said, let's delve into the average estimates of some Ovintiv metrics that Wall Street analysts commonly model and monitor.According to the collective judgment of analysts, 'Revenues- Canadian Operations' should come in at $462.62 million. The estimate indicates a year-over-year change of -18%.The combined assessment of analysts suggests that 'Revenues- USA Operations' will likely reach $1.32 billion. The estimate points to a change of -20.7% from the year-ago quarter.Analysts forecast 'Revenues- Market Optimization' to reach $410.08 million. The estimate points to a change of -31% from the year-ago quarter.Analysts' assessment points toward 'Production Volumes - Total - Total' reaching 583.10 millions of barrels of oil equivalent per day. The estimate is in contrast to the year-ago figure of 605.2 millions of barrels of oil equivalent per day.The consensus estimate for 'Production Volumes - Natural Gas - Total' stands at 1,710.06 millions of cubic feet per day. Compared to the current estimate, the company reported 1645 millions of cubic feet per day in the same quarter of the previous year.The collective assessment of analysts points to an estimated 'Production Volumes - Oil - Total' of 163.62 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 194.1 millions of barrels of oil per day.It is projected by analysts that the 'Production Volumes - Oil & NGLs - Total' will reach 298.69 millions of barrels of oil per day. Compared to the current estimate, the company reported 331.1 millions of barrels of oil per day in the same quarter of the previous year.Analysts predict that the 'Production Volumes - NGLs - Total - Total' will reach 135.08 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 137 millions of barrels of oil per day.The average prediction of analysts places 'Production Volumes - Total - Canadian Operations' at 240.65 millions of barrels of oil equivalent per day. Compared to the current estimate, the company reported 238.1 millions of barrels of oil equivalent per day in the same quarter of the previous year.Analysts expect 'Production Volumes - Total - USA Operations' to come in at 341.35 millions of barrels of oil equivalent per day. Compared to the current estimate, the company reported 367.1 millions of barrels of oil equivalent per day in the same quarter of the previous year.Based on the collective assessment of analysts, 'Production Volumes - Oil & NGLs - Canadian Operations' should arrive at 46.45 millions of barrels of oil per day. The estimate compares to the year-ago value of 51.2 millions of barrels of oil per day.The consensus among analysts is that 'Production Volumes - Oil & NGLs - USA Operations' will reach 251.54 millions of barrels of oil per day. Compared to the present estimate, the company reported 279.9 millions of barrels of oil per day in the same quarter last year.View all Key Company Metrics for Ovintiv here>>>Over the past month, Ovintiv shares have recorded returns of -3.5% versus the Zacks S&P 500 composite's -0.5% change. Based on its Zacks Rank #2 (Buy), OVV will likely outperform the overall market in the upcoming period. 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