Ovintiv Inc., together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta. Its other upstream assets comprise Eagle Ford in south Texas, Bakken in North Dakota, and Uinta in central Utah; and Duvernay in west central Alberta, Horn River in northeast British Columbia, and Wheatland in southern Alberta. The company was formerly known as Encana Corporation and changed its name to Ovintiv Inc. in January 2020. Ovintiv Inc. was incorporated in 2020 and is based in Denver, Colorado.
IPO Year:
Exchange: NYSE
Website: ovintiv.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
7/18/2024 | $65.00 | Outperform | Wolfe Research |
6/14/2024 | $60.00 | In-line → Outperform | Evercore ISI |
4/10/2024 | $69.00 | Overweight | Barclays |
12/6/2023 | $61.00 → $58.00 | Neutral → Overweight | JP Morgan |
11/22/2023 | $48.00 → $52.00 | Neutral → Buy | Citigroup |
7/18/2023 | $44.00 | Equal-Weight | Morgan Stanley |
7/12/2023 | $38.00 | Neutral | Goldman |
4/19/2023 | $52.00 | Buy | UBS |
4/17/2023 | $64.00 → $40.00 | Overweight → Equal Weight | Wells Fargo |
3/23/2023 | $55.00 → $38.00 | Buy → Neutral | Citigroup |
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DENVER, March 4, 2021 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Katherine L. Minyard has been appointed as an independent member of its board of directors, effective immediately. Minyard, 45, is an Investment Principal and Partner at Cambiar Investors where she focuses on energy, metals and mining, industrials, basic materials and utility equities. Before joining Cambiar, she was an Executive Director on J.P. Morgan's Equity Research Team covering integrated oil, refining, Canadian oil and U.S. E&P companies. Minyard graduated from Texas A&M University, has an MBA from INSEAD in France, and holds the Chartered Financial Analyst designation. Ovintiv's independen
NEW YORK, Jan. 14, 2021 /PRNewswire/ -- Kimmeridge Energy Management Company, LLC ("Kimmeridge"), a private investment firm focused on upstream energy, with an investment philosophy underpinned by fundamental research, today published an investor presentation titled, "Ovintiv: A Track Record of Value Destruction." In its presentation, Kimmeridge, a top ten shareholder of Ovintiv Inc. ("Ovintiv" or the "Company") (NYSE: OVV), highlights the Company's failures of capital allocation, governance and environmental stewardship. Kimmeridge also provides a framework for restoring confidence in Ovintiv, applying the core principles previously outlined in its white papers. Kimmeridge has argued th
Company Receives TSX Approval for Renewal of Normal Course Issuer Bid DENVER, Sept. 26, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with the Company's capital allocation framework, which returns at least 50 percent of post base dividend Non-GAAP Free Cash Flow to shareholders. The Toronto Stock Exchange ("TSX") has accepted Ovintiv's notice of intention to renew its normal course issuer bid ("NCIB") to purchase up to 25,920,545 common shares during the 12-month period commencing October 3, 2024, and ending October 2, 2025. The number of shares authorized f
Operational Excellence Drives Strong Financial Results; Production Guidance Raised Highlights: Generated net earnings of $340 million, cash from operating activities of $1,020 million, Non-GAAP Cash Flow of $1,025 million and Non-GAAP Free Cash Flow of $403 million after capital expenditures of $622 millionSecond quarter production was at the high-end or above the guidance range on every product with average total production volumes of 594 thousand barrels of oil equivalent per day ("MBOE/d"), including 212 thousand barrels per day ("Mbbls/d") of oil and condensate, 92 Mbbls/d of other NGLs (C2 to C4) and 1,740 million cubic feet per day ("MMcf/d") of natural gasReturned $262 million to shar
Operational Excellence Drives Strong Financial Results; Production Guidance Raised Highlights: Generated net earnings of $340 million, cash from operating activities of $1,020 million, Non-GAAP Cash Flow of $1,025 million and Non-GAAP Free Cash Flow of $403 million after capital expenditures of $622 millionSecond quarter production was at the high-end or above the guidance range on every product with average total production volumes of 594 thousand barrels of oil equivalent per day ("MBOE/d"), including 212 thousand barrels per day ("Mbbls/d") of oil and condensate, 92 Mbbls/d of other NGLs (C2 to C4) and 1,740 million cubic feet per day ("MMcf/d") of natural gasReturned $262 million to shar
DENVER, July 11, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced plans to hold its second quarter 2024 results conference call at 8:00 a.m. MT, on Wednesday July 31, 2024. The Company plans to release its financial and operating results after market close, Tuesday July 30, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3tYoHEZ to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator. Please
Strong Shareholder Returns Underpinned by Continued Operational Excellence Highlights:Generated net earnings of $338 million, cash from operating activities of $659 million, Non-GAAP Cash Flow of $1,035 million and Non-GAAP Free Cash Flow of $444 million after capital expenditures of $591 millionFirst quarter production was at the high-end or above the guidance range on every product with average total production volumes of 574 thousand barrels of oil equivalent per day ("MBOE/d"), including 211 thousand barrels per day ("Mbbls/d") of oil and condensate, 88 Mbbls/d of other NGLs (C2 to C4) and 1,648 million cubic feet per day ("MMcf/d") of natural gasReturned $328 million to shareholders thr
DENVER, May 6, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) (the "Company") today announced that the following matters, as further described in the Company's Proxy Statement filed on March 21, 2024 (the "Proxy Statement"), were voted upon at its 2024 Annual Meeting of Shareholders held on May 2, 2024. Election of Directors Each director listed in the Proxy Statement was elected as a director of the Company. The results of the vote by ballot were as follows: Shares For Percent Shares Against Percent Abstain Broker Non-vote Peter A. Dea 194,581,463 97.01 % 5,980,639 2.98 % 150,878 20,538,660 Sippy Chhina 200,244,944 99.84 % 317,144 0.15 % 150,892 20,538,660 Meg A. Gentle 198,470,251
DENVER, April 8, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced plans to hold its first quarter 2024 results conference call at 9:00 a.m. MT, on Wednesday May 8, 2024. The Company plans to release its financial and operating results after market close, Tuesday May 7, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3tPPnb2 to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator. Please dial
Strong 2023 Operational Execution; Enhanced Capital Efficiency Expected in 2024 Highlights: Full Year 2023 Generated net earnings of $2.1 billion, cash from operating activities of $4.2 billion, Non-GAAP Cash Flow of $3.9 billion and Non-GAAP Free Cash Flow of $1.2 billion after capital expenditures of $2.7 billionExceeded high end of full year production guidance on every product with average total volumes of 566 thousand barrels of oil equivalent per day ("MBOE/d"), including 202 thousand barrels per day ("Mbbls/d") of oil and condensate, 90 Mbbls/d of other NGLs (C2 to C4) and 1,642 million cubic feet per day ("MMcf
DENVER, Jan. 26, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced plans to hold its 2023 fourth quarter and year-end results conference call at 8:00 a.m. MT, on Wednesday February 28, 2024. The Company plans to release its financial and operating results after market close, Tuesday February 27, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3Segm9H to receive an instant automated call back. You can also dial direct to be entered to the call by
DENVER, Jan. 11, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced that Sippy Chhina has been named as an independent member of its board of directors, effective January 15, 2024. Chhina, 57, recently retired as a Partner at Deloitte Canada LLP, a leading multinational professional services network, where she held various roles since 2006. In addition to her client responsibilities, she also served as a member on the Board of Deloitte Canada and was a Vice Chair of the Firm. Prior to joining Deloitte Canada, Chhina served in roles of increasing responsibility with BDO LLP, including Partner from 1999 to 2006. She brings deep technical expertise in accounting, audit and
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Company Receives TSX Approval for Renewal of Normal Course Issuer Bid DENVER, Sept. 26, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with the Company's capital allocation framework, which returns at least 50 percent of post base dividend Non-GAAP Free Cash Flow to shareholders. The Toronto Stock Exchange ("TSX") has accepted Ovintiv's notice of intention to renew its normal course issuer bid ("NCIB") to purchase up to 25,920,545 common shares during the 12-month period commencing October 3, 2024, and ending October 2, 2025. The number of shares authorized f
Operational Excellence Drives Strong Financial Results; Production Guidance Raised Highlights: Generated net earnings of $340 million, cash from operating activities of $1,020 million, Non-GAAP Cash Flow of $1,025 million and Non-GAAP Free Cash Flow of $403 million after capital expenditures of $622 millionSecond quarter production was at the high-end or above the guidance range on every product with average total production volumes of 594 thousand barrels of oil equivalent per day ("MBOE/d"), including 212 thousand barrels per day ("Mbbls/d") of oil and condensate, 92 Mbbls/d of other NGLs (C2 to C4) and 1,740 million cubic feet per day ("MMcf/d") of natural gasReturned $262 million to shar
Operational Excellence Drives Strong Financial Results; Production Guidance Raised Highlights: Generated net earnings of $340 million, cash from operating activities of $1,020 million, Non-GAAP Cash Flow of $1,025 million and Non-GAAP Free Cash Flow of $403 million after capital expenditures of $622 millionSecond quarter production was at the high-end or above the guidance range on every product with average total production volumes of 594 thousand barrels of oil equivalent per day ("MBOE/d"), including 212 thousand barrels per day ("Mbbls/d") of oil and condensate, 92 Mbbls/d of other NGLs (C2 to C4) and 1,740 million cubic feet per day ("MMcf/d") of natural gasReturned $262 million to shar
DENVER, July 11, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced plans to hold its second quarter 2024 results conference call at 8:00 a.m. MT, on Wednesday July 31, 2024. The Company plans to release its financial and operating results after market close, Tuesday July 30, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3tYoHEZ to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator. Please
Strong Shareholder Returns Underpinned by Continued Operational Excellence Highlights:Generated net earnings of $338 million, cash from operating activities of $659 million, Non-GAAP Cash Flow of $1,035 million and Non-GAAP Free Cash Flow of $444 million after capital expenditures of $591 millionFirst quarter production was at the high-end or above the guidance range on every product with average total production volumes of 574 thousand barrels of oil equivalent per day ("MBOE/d"), including 211 thousand barrels per day ("Mbbls/d") of oil and condensate, 88 Mbbls/d of other NGLs (C2 to C4) and 1,648 million cubic feet per day ("MMcf/d") of natural gasReturned $328 million to shareholders thr
DENVER, April 8, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced plans to hold its first quarter 2024 results conference call at 9:00 a.m. MT, on Wednesday May 8, 2024. The Company plans to release its financial and operating results after market close, Tuesday May 7, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3tPPnb2 to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator. Please dial
Strong 2023 Operational Execution; Enhanced Capital Efficiency Expected in 2024 Highlights: Full Year 2023 Generated net earnings of $2.1 billion, cash from operating activities of $4.2 billion, Non-GAAP Cash Flow of $3.9 billion and Non-GAAP Free Cash Flow of $1.2 billion after capital expenditures of $2.7 billionExceeded high end of full year production guidance on every product with average total volumes of 566 thousand barrels of oil equivalent per day ("MBOE/d"), including 202 thousand barrels per day ("Mbbls/d") of oil and condensate, 90 Mbbls/d of other NGLs (C2 to C4) and 1,642 million cubic feet per day ("MMcf
DENVER, Jan. 26, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced plans to hold its 2023 fourth quarter and year-end results conference call at 8:00 a.m. MT, on Wednesday February 28, 2024. The Company plans to release its financial and operating results after market close, Tuesday February 27, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3Segm9H to receive an instant automated call back. You can also dial direct to be entered to the call by
DENVER, Oct. 10, 2023 Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced plans to hold its third quarter 2023 results conference call at 10:00 a.m. MT, on Wednesday November 8, 2023. The Company plans to release its financial and operating results after market close, Tuesday November 7, 2023. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3nQ9Md7 to receive an instant automated call back. You can also dial direct to be entered to the call by an Operator. Please dial 888-
Company Receives TSX Approval for Renewal of Normal Course Issuer Bid DENVER, Sept. 26, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE:OVV) (TSX:OVV) today announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with the Company's capital allocation framework, which returns at least 50 percent of post base dividend Non-GAAP Free Cash Flow to shareholders. The Toronto Stock Exchange ("TSX") has accepted Ovintiv's notice of intention to renew its normal course issuer bid ("NCIB") to purchase up to 26,734,819 common shares during the 12-month period commencing October 3, 2023, and ending October 2, 2024. The number of shares authorized f
Wolfe Research resumed coverage of Ovintiv with a rating of Outperform and set a new price target of $65.00
Evercore ISI upgraded Ovintiv from In-line to Outperform and set a new price target of $60.00
Barclays initiated coverage of Ovintiv with a rating of Overweight and set a new price target of $69.00
JP Morgan upgraded Ovintiv from Neutral to Overweight and set a new price target of $58.00 from $61.00 previously
Citigroup upgraded Ovintiv from Neutral to Buy and set a new price target of $52.00 from $48.00 previously
Morgan Stanley resumed coverage of Ovintiv with a rating of Equal-Weight and set a new price target of $44.00
Goldman resumed coverage of Ovintiv with a rating of Neutral and set a new price target of $38.00
UBS initiated coverage of Ovintiv with a rating of Buy and set a new price target of $52.00
Wells Fargo downgraded Ovintiv from Overweight to Equal Weight and set a new price target of $40.00 from $64.00 previously
Citigroup downgraded Ovintiv from Buy to Neutral and set a new price target of $38.00 from $55.00 previously
Truist Securities analyst Neal Dingmann maintains Ovintiv (NYSE:OVV) with a Buy and lowers the price target from $68 to $60.
During the last three months, 8 analysts shared their evaluations of Ovintiv (NYSE:OVV), revealing diverse outlooks from bullish to bearish. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 3 2 0 0 Last 30D 0 0 1 0 0 1M Ago 0 2 0 0 0 2M Ago 1 1 1 0 0 3M Ago 2 0 0 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $60.88, a high estimate of $70.00, and a low estimate of $52.00. Witnessing a positive shift, the current average has risen
Wells Fargo analyst Roger Read maintains Ovintiv (NYSE:OVV) with a Equal-Weight and lowers the price target from $54 to $52.
Wolfe Research analyst Doug Leggate reinstates Ovintiv (NYSE:OVV) with a Outperform.
Scotiabank analyst Jason Bouvier maintains Ovintiv (NYSE:OVV) with a Sector Outperform and raises the price target from $58 to $60.
Ovintiv (NYSE:OVV) has outperformed the market over the past 5 years by 2.39% on an annualized basis producing an average annual return of 15.59%. Currently, Ovintiv has a market capitalization of $12.68 billion. Buying $100 In OVV: If an investor had bought $100 of OVV stock 5 years ago, it would be worth $201.98 today based on a price of $47.49 for OVV at the time of writing. Ovintiv's Performance Over Last 5 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated content engine and reviewed by an e
Evercore ISI Group analyst Stephen Richardson reiterates Ovintiv (NYSE:OVV) with a Outperform and maintains $60 price target.
B of A Securities analyst Noah Hungness reinstates Ovintiv (NYSE:OVV) with a Neutral and announces $55 price target.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page. Keefe, Bruyette & Woods analyst David Konrad upgraded the rating for Bank of America Corporation (NYSE:BAC) from Market Perform to Outperform, while raising the price target from $37 to $46. Bank of America shares fell 0.4% to close at $39.26 on Thursday. See how other analysts view this stock. Evercore ISI Group analyst Stephen Richardson upgraded Ovintiv Inc. (NYSE:OVV) from In-Line to Outperform and maintained a price target of $60. Ovintiv shares fell 3.2% to settle at $46.83 on Th
Evercore ISI Group analyst Stephen Richardson upgrades Ovintiv (NYSE:OVV) from In-Line to Outperform and maintains the price target from $60 to $60.