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Ovintiv (OVV) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended December 2023, Ovintiv (OVV) 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.

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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.

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