Ovintiv
About: Ovintiv is a North American oil and natural gas exploration and production company. It focuses on the exploration and development of oil, NGLs, and natural gas reserves. The company has three segments: USA Operations, Canadian Operations, and Market Optimization.
Employees: 1,743
0
Funds holding %
of 6,809 funds
0
Analysts bullish %
of 9 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
29% more repeat investments, than reductions
Existing positions increased: 222 | Existing positions reduced: 172
14% more call options, than puts
Call options by funds: $97.4M | Put options by funds: $85.6M
0.41% more ownership
Funds ownership: 80.27% [Q2] → 80.68% (+0.41%) [Q3]
0% more funds holding
Funds holding: 538 [Q2] → 538 (+0) [Q3]
0% more first-time investments, than exits
New positions opened: 78 | Existing positions closed: 78
19% less capital invested
Capital invested by funds: $10B [Q2] → $8.15B (-$1.9B) [Q3]
80% less funds holding in top 10
Funds holding in top 10: 5 [Q2] → 1 (-4) [Q3]
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$42
11%
upside
Avg. target
$54
44%
upside
High target
$60
59%
upside
9 analyst ratings
8 positive
89%
1 neutral
11%
0 negative
0%
Wells Fargo Roger Read 23% 1-year accuracy 23 / 99 met price target | 11%upside $42 | Equal-Weight Maintained | 17 Dec 2024 |
Mizuho Nitin Kumar 19% 1-year accuracy 15 / 79 met price target | 59%upside $60 | Outperform Maintained | 16 Dec 2024 |
UBS Josh Silverstein 11% 1-year accuracy 5 / 47 met price target | 48%upside $56 | Buy Maintained | 9 Dec 2024 |
Citigroup Scott Gruber 41% 1-year accuracy 27 / 66 met price target | 43%upside $54 | Buy Maintained | 26 Nov 2024 |
Scotiabank Jason Bouvier 0% 1-year accuracy 0 / 2 met price target | 40%upside $53 | Sector Outperform Maintained | 18 Nov 2024 |
Financial journalist opinion
Based on 4 articles about OVV published over the past 30 days
Positive
Zacks Investment Research
3 days ago
Here's Why Ovintiv (OVV) Could be Great Choice for a Bottom Fisher
Ovintiv (OVV) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.
Positive
Zacks Investment Research
2 weeks ago
Wall Street Analysts Predict a 32.91% Upside in Ovintiv (OVV): Here's What You Should Know
The consensus price target hints at a 32.9% upside potential for Ovintiv (OVV). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
Positive
Zacks Investment Research
2 weeks ago
Are Investors Undervaluing Ovintiv (OVV) Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Positive
Zacks Investment Research
3 weeks ago
Should You Buy Ovintiv Stock Amid Attractive Valuation or Hold?
OVV's solid free cash flow and drilling efficiency boost its appeal, but commodity price volatility and high transportation costs pose risks to future profits.
Positive
Zacks Investment Research
1 month ago
Ovintiv's Q3 Earnings Beat Estimates, Revenues Down 12% Y/Y
OVV expects capital expenditure in the range of $525-$575 million for the fourth quarter of 2024 and between $2.28 billion and $2.33 billion for the full year.
Positive
Zacks Investment Research
1 month ago
Ovintiv's Twin Deals: What Are the Key Takeaways for Investors?
OVV acquires premium Montney assets and sells Uinta holdings, boosting its oil production capacity and strengthening cash flows.
Neutral
Zacks Investment Research
1 month ago
Drilling Deep Into the Canadian Upstream Industry: What to Expect?
Following a careful analysis of the Zacks Oil and Gas - Exploration and Production - Canadian industry, we advise focusing on companies like CNQ, OVV and BTE.
Neutral
GlobeNewsWire
1 month ago
FourPoint Resources, Quantum Capital Group and Kayne Anderson to Acquire Ovintiv Uinta Basin Assets for $2 Billion
DENVER and HOUSTON, Nov. 14, 2024 (GLOBE NEWSWIRE) -- FourPoint Resources, LLC (“FourPoint”), together with their partners Quantum Capital Group (“Quantum”) and Kayne Anderson, announced today the signing of a purchase and sale agreement to acquire Ovintiv Inc.'s (NYSE, TSX: OVV) Uinta Basin assets for a purchase price of $2.0 billion in cash. The asset includes 126,000 net acres and production of 29 Mbbls/d.
Neutral
Reuters
1 month ago
Ovintiv to buy Montney oil assets for $2.38 billion
Ovintiv said on Thursday it would acquire certain oil assets located in the Montney formation in Canada from Paramount Resources for about $2.38 billion in an all-cash deal.
Neutral
PRNewsWire
1 month ago
Ovintiv Strengthens Portfolio with Core Oil-Rich Montney Asset Acquisition
Transaction to Significantly Expand Existing Montney Premium Oil Inventory, Company to Exit Uinta Basin with Asset Sale Highlights: Agreement reached to acquire approximately 109,000 net acres and approximately 70 thousand barrels of oil equivalent per day ("MBOE/d") in the core of the Alberta Montney for $2.377 billion (C$3.325 billion) Acquisition will add approximately 900 total net well locations, including approximately 600 premium(1) return well locations and approximately 300 upside locations, extending premium Montney oil and condensate inventory life to approximately 15 years Expanded access to additional midstream and downstream infrastructure will enable future oil growth optionality Agreement reached to divest Uinta assets for proceeds of $2.0 billion Combined transactions are immediately and long-term accretive across all key financial metrics, 2025 Non-GAAP Free Cash Flow expected to increase by approximately $300 million (2) at current commodity strip pricing Annual cost synergies from the combined transactions are expected to total approximately $125 million (2) Commitment to investment grade balance sheet maintained, ratings agencies expected to affirm investment grade rating and stable outlook Non-GAAP Net Debt of approximately $5.65 billion, as of October 31, 2024 DENVER , Nov. 14, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today announced it has entered into a definitive purchase agreement to acquire certain Montney assets (the "assets") from Paramount Resources Ltd. ("Paramount"), in an all-cash transaction valued at approximately $2.377 billion (C$3.325 billion).
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