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Ovintiv, Inc. (NYSE:OVV ) Q1 2023 Earnings Conference Call May 10, 2023 11:00 AM ET Company Participants Jason Verhaest - IR Brendan McCracken - President, CEO & Director Gregory Givens - EVP & COO Corey Code - EVP & CFO Conference Call Participants Doug Leggate - Bank of America Merrill Lynch Joshua Silverstein - UBS Neal Dingmann - Truist Securities Nicholas Pope - Seaport Research Partners Arun Jayaram - JPMorgan Chase & Co. Noel Parks - Tuohy Brothers Investment Research Gabriel Daoud - TD Cowen Operator Good morning, ladies and gentlemen. Thank you for standing by.
Ovintiv (OVV) came out with quarterly earnings of $1.82 per share, missing the Zacks Consensus Estimate of $1.83 per share. This compares to earnings of $2.17 per share a year ago.
DENVER , April 13, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its first quarter 2023 results conference call at 9:00 a.m. MT, on Wednesday May 10, 2023.
Investment firm Dodge & Cox disclosed earlier this week it upped its stake in Ovintiv Inc. ( OVV , Financial) by 25.34%.
Ovintiv is buying 3 Permian companies and selling one Bakken Company. OVV stock rose 11% on the day of the announcement of the deal.
Ovintiv (OVV) is set to strengthen its position in the Permian Basin and boost its overall production capacity with the acquisition of Core Midland Basin Assets.
The cash-and-stock deal sees Ovintiv issue 36 million shares and $3.13 billion in cash to asset manager EnCap Investments L.P.
Ovintiv got the shareholder return strategy right in 2022. Ovintiv, however, messed up in a big way on hedging for both 2022 and 2023.
Ovintiv announced Monday it is acquiring oil exploration and production assets in the Permian Basin, in the United Stataes from Black Swan Oil & Gas, PetroLegacy Energy and Piedra Resources, companies controlled by private equity firm EnCap Investments, for about $4.275 billion in cash and stock. The acquisition supports the company's efforts to expand its operations in the Permian Basin, where it has already committed to undertaking additional drilling work.
Ovintiv Inc. OVV, +2.53% OVV, +2.40% said Monday it has agreed to acquire all leaeshold and related assets of Black Swan Oil & Gas, PetroLegacy Energy and Piedra Resources in a cash-and-stock deal valued at about $4.275 billion. The three companies are portfolio companies of funds managed by EnCap Investments L.P.