OVV Stock Recent News

DENVER , Oct. 11, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its third quarter 2024 results conference call at 7:00 a.m. MT, on Friday November 8, 2024.

Ovintiv (OVV) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

OVV offers strong production growth and cash flow, yet potential investors should be cautious of its debt and sensitivity to market changes.

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.

Ovintiv (OVV) considers selling its Uinta Basin operations for up to $2 billion to focus on higher-growth regions like the Permian Basin.

Ovintiv raised its guidance for 2024 and has shown impressive business growth in the last decade. The company's asset growth, FCF growth, and debt reduction indicate proven expertise in the industry. Recent announcements about reductions in expenses and new well improvement technologies could accelerate FCF growth, making OVV stock appear undervalued.

Ovintiv (OVV) expects capital expenditure in the $530-$570 million range for the third quarter of 2024 and between $2.25 and $2.35 billion for the full year.

Ovintiv (OVV) came out with quarterly earnings of $1.24 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $0.93 per share a year ago.

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 million Second 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 gas Returned $262 million to shareholders through the combination of base dividend payments and share buybacks Raised full year production guidance range to 570 MBOE/d to 580 MBOE/d, including oil and condensate of 207 Mbbls/d to 209 Mbbls/d and natural gas of 1,660 MMcf/d to 1,690 MMcf/d Full year capital guidance range narrowed

Ovintiv (OVV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.