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Ovintiv Inc. (OVV)

NYSE - Nasdaq Real Time Price. Currency in USD
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52.35+2.11 (+4.20%)
As of 10:43AM EDT. Market open.

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  • S
    Solidus
    Oil is still artificially deflated... Hence the large jumps across the board... Time to buy was last week!!!... $CPE $OVV $LPI $KOS $VET $CVE
  • R
    Ronald
    More share buy-backs (instead of dividnend increases?).
    From Press release today:

    "In July of 2022, the Company elected to double its cash returns to shareholders to 50% of the previous quarter's Non-GAAP Free Cash Flow after base dividends. These returns can be delivered through share buy-backs and/or variable dividends.

    The Toronto Stock Exchange (TSX) has accepted Ovintiv's notice of intention to renew its normal course issuer bid (NCIB) to purchase up to 24,846,855 common shares, or ten percent of its public float as calculated pursuant to TSX rules (approximately 10% of Ovintiv's issued and outstanding shares), during the 12-month period commencing October 3, 2022 and ending October 2, 2023. The number of shares authorized for purchase represents 10 percent of Ovintiv's public float as of September 19, 2022. Purchases will be made on the open market through the facilities of the TSX, New York Stock Exchange (NYSE) and/or alternative trading systems at the market price at the time of acquisition, as well as by other means permitted by stock exchange rules and securities laws including Rule 10b-18 under the Securities Exchange Act of 1934, as amended."
  • R
    Roger
    Looked at their Q2 earnings report. The appendix on hedges looks like Q223 is an interesting time. Their hedges will expire. If oil and gas still hot, which will probably be the case with the supply side, then OVV will be making the cash to be called a cash machine.
  • J
    John
    Ovintiv
    Market Cap: $10.21B P/E Ratio (Fwd): 4.23 YTD Returns: 17.7%
    Ovintiv Inc. (NYSE: OVV) is a Denver, Colorado-based energy company that, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids.
    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 Bakken in North Dakota, and Uinta in central Utah; and Horn River in northeast British Columbia, and Wheatland in southern Alberta.
    Back in July, Mizuho upgraded OVV to $78 from $54 (good for 88% upside to the current price), citing improving tailwinds.
  • J
    John
    After last week's 16% share price decline to CA$55.13, the stock trades at a forward P/E ratio of 3x.
    Average forward P/E is 5x in the Oil and Gas industry in Canada.
    Total returns to shareholders of 100% over the past three years.
    Simply Wall St's valuation model estimates the intrinsic value at CA$101 per share.
  • S
    Solidus
    $LPI conversation
    Bought more yesterday... glad I did... Major over-correction in the O&G markets... Oil will creep back up as OPEC and Russia begin to manipulate supply chains throughout the Fall/Winter... $CPE $LPI $CDEV $OVV GLTA!
  • j
    jeff
    Tow major gas pipelines gone in Europe, probably blown up by Russia just before the cold sets in, Ovv produces more gas than oil fyi
  • J
    John
    Oil prices to rebound from here. Demand cannot be denied! We continue to see supply demand and inventories dwindle. In the next couple of months, that will start to show in the economy and you will see prices rebound. The companies will be again showing record profits and stock appreciation will rebound to new record levels. I am buying these dips to add to my already 10k plus of stock....my largest position as I see some countries cut back production already at the current prices.
  • j
    jeff
    Bank of America warning that the price of gas will reach 100$ a barrel by years end and predicting demand to be back up in Asia in the next months. Get ready, the dip is ending.
  • J
    John
    OVV is holding its Montney webcast and conference call right now. Love what I am hearing. Net debt to drop to 3 billion by the end of the year. Buy backs and dividends are continuing with dividends to double in 2023. Cash flow will make OVV a "cash cow" in 2023. Good luck to all who believe they have a great asset in their holdings.
  • j
    jeff
    Putin calling in 300,000 reservist, winter coming and Europe needs for gas just starting, the war is far from over, the E.U. ban on Russian oil about to take effect. OVV is perfectly positioned and will benefit a lot from all of this.
  • C
    Citizen
    $SBOW conversation
    Brilliant. I sold all my SBOW the other day in the 39's and have been slowly buying them back over the last 2 days. If there is one thing I have learned in the last year is to take profit on large up days ..... I have added to $AR and $OVV as well as $ESTE today ...... These are the days when money is being made ....
  • n
    nick
    Why people are selling gas stocks.... winter is coming, Freeport lng terminal reopens soon, eu and Asia hungry for gas??
  • N
    Night Fire
    -----RBC INSIGHT EQUITY RESEARCH-----

    -----Our view: Our recent discussion with Ovintiv’s IR Senior Advisors, Michael Schmidt, Michael Pomorski and Patti Posadowski delved into the company’s operations and touched on its natural gas marketing portfolio. With its formula driven shareholder returns model in motion, Ovintiv’s buybacks should move appreciably higher in the quarters to come. We are maintaining an Outperform rating on Ovintiv and raising our one-year target price by $5 to $56 per share.-----

    -----Key points:-----

    -----Montney in Focus. Ovintiv will be holding its Montney focused webcast today (link here) at 11 am ET. The company’s legacy Montney position is world class in our eyes, with a refreshed natural gas marketing plan aimed at trimming its AECO exposure. Come November 1, Ovintiv contracted about 245 mmcf/d of incremental firm transport from western Canada into the Chicago market. Assuming stable production levels with the first-half of 2022, 80%-85% of Ovintiv’s Montney gas production from 2023-25 will be priced outside of AECO. As it stands today (and until November 1), just over one-half of Ovintiv’s Canadian gas (or about 504 mmcf/d in 2022 after royalties) is sold at AECO, with about 315 mmcf/d headed to Dawn and another 130 mmcf/d headed to Sumas/Malin.-----

    -----Permian Strength. The Permian continues to be a pillar for Ovintiv, with three rigs running continuously amid a capital program of $650-$700 million this year. Surface locations within the Permian are mitigating cost inflation for Ovintiv, with its lateral lengths now in excess of 14,000 feet (up from 11,000 feet in 2021). The company is primarily focused on expanding and improving its application of simultaneous fracturing, which accounts for over 80% of its activity in the Permian.-----

    -----FCF and Shareholder Returns. We peg Ovintiv’s free cash flow (before dividends of $241 million and including net dispositions) at $3.4 billion in 2022 under our base outlook ($108 WTI, $5.63 Henry Hub). Commensurate with its second-quarter results, Ovintiv boosted its shareholder returns to 50% of the previous quarter’s free cash flow (after base dividends) effective July 1, with an accent on share repurchases.-----

    -----Relative Valuation. Ovintiv is trading at a discount 2022 debt-adjusted cash flow multiple of 2.9x (vs. our North American E&P peer group avg. of 4.0x) and an elevated 26% free cash flow yield (vs. our peer group average of 19%). We believe the company should trade at an average/modest discount vis-à-vis our peer group given its solid execution capability, strengthening balance sheet and rising shareholder returns, partly offset by its unconventional strategic moves at times.-----
  • J
    John
    Despite CPI in the U.S. coming in hotter than expected, it will not change the upward momentum of the energy sector. Oil and natural gas will continue to move up after coming down the last couple of months. With Putin having cut off Europe from all energy supplies, it will have to come from somewhere. Most energy producers continue to make cash loads of money at current prices and as winter sets in, prices will be pushed up higher leading to greater profits. OVV has price targets of $100 come the end of December 2022 into 2023. Huge potential for those who are looking to add at these levels. Why there are sellers at these levels also is crazy to me, given the huge upside that could be realized by holding on. Good luck to all and let me know your thoughts. Love reading the opinions of the true holders of this stock.
  • J
    John
    Oil prices still strong despite market jitters. Profits continue to be made and the drop in stock price gives those who were looking at adding more just another opportunity. In my opinion, take advantage of the drop today, we may see slightly more turbulence next week when the fed announces its stance on interest rates, but to try to nail down a bottom is always difficult. The economy needs to continue to move and so do goods across the country. That takes energy, specifically oil and gas. The prices will continue to move upwards as supply dwindles. Just my take and rant of the day...stay positive.
  • J
    Jon
    OPEC cuts production of oil 100,000 barrels/day in a surprise move for October…decided today. Happy labour day…. Should be an interesting week in the energy market 😀 this week folks
  • D
    Derek
    Looking forward to the montney overview. They have been really focused on liquids and promoting themselves as more of an oil play but they produce a lot of gas. The montney is Canada's most prolific gas field and OVV has a significant acreage that isn't getting the recognition it deserves.
  • A
    AGLIAM
    I am staying far away from OVV- It looks like it is going to drop off a cliff. I actually get way better stocks at www.expertinvestor.club