Ovintiv Inc. (OVV) is a well-known oil and gas exploration and production company based in Denver, CO. The company operates in the United States and Canada, focusing on finding, developing and producing natural gas, oil and natural gas liquids. OVV has valuable assets in key oil fields in North America, such as the Permian Basin in Texas, the Anadarko Basin in Oklahoma and the Montney region in Canada. These areas are known for being highly productive and cost-effective, providing a strong foundation for th ...

It has been about a month since the last earnings report for Ovintiv (OVV) . Shares have added about 0.4% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Ovintiv due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.How Have Estimates Been Moving Since Then?It turns out, ...

Core Points - Ovintiv Inc. plans to hold its first quarter 2025 results conference call on May 7, 2025, at 8:00 a.m. MT [1] - The financial and operating results will be released after market close on May 6, 2025 [1] - Supplemental slides and financial statements will be available on the company's website [1] Conference Call Details - Participants can register for the conference call at https://emportal.ink/4gNVVu0 for an automated call back [2] - Direct dial options include 888-510-2154 (toll-free in North America) or 437-900-0527 (international) [2] - It is recommended to join the call approximately 15 minutes prior to the start [2] Webcast Information - A live audio webcast of the event, including slides, will be available on Ovintiv's website under Investors/Presentations and Events [3] - The webcast will be archived for approximately 90 days [3] - Additional information about Ovintiv Inc. can be found on their website or by contacting investor and media relations [3]

Ovintiv (OVV) closed the last trading session at $43.80, gaining 3.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $57.24 indicates a 30.7% upside potential.The mean estimate comprises 21 short-term price targets with a standard deviation of $6.25. While the lowest estimate of $45 indicates a 2.7% increase from the current price level, the most optimistic analyst expects the sto ...

Core Viewpoint - Ovintiv Inc. reported fourth-quarter 2024 adjusted earnings per share of $1.35, exceeding the Zacks Consensus Estimate of $1.11, driven by better-than-expected oil production volumes, although the earnings decreased from $2.35 in the previous year due to lower commodity prices and increased expenses [1][2]. Financial Performance - Total revenues for the fourth quarter were $2.2 billion, a decrease of 30.9% from the previous year and missing the Zacks Consensus Estimate by 5.6% [2]. - Total expenses increased to $2.2 billion from $2 billion in the prior year, surpassing the estimate of $1.8 billion [9]. - Cash from operating activities was $1 billion, down from $1.4 billion year-over-year [9]. - The company generated a non-GAAP free cash flow of $1,004 million in the reported quarter [10]. Production and Prices - Total production in the fourth quarter was 579,900 barrels of oil equivalent per day (BOE/d), down from 605,200 BOE/d in the prior year and missing the estimate of 581,600 BOE/d [6]. - Natural gas production increased to 1,680 million cubic feet per day (MMcf/d) from 1,645 MMcf/d year-over-year, but fell short of the estimate of 1,704.3 MMcf/d [6]. - Realized natural gas price was $2.42 per thousand cubic feet, down from $2.65 in the previous year, but exceeded the estimate of $1.89 [7]. - Realized oil price decreased to $67.93 per barrel from $76.64 in the fourth quarter of 2023, missing the estimate of $69.20 [8]. Shareholder Value and Capital Management - The company distributed approximately $913 million to shareholders in 2024, including $597 million in share buybacks and $316 million in base dividend payments [4]. - A quarterly dividend of 30 cents per share was declared, payable on March 31, 2025 [3]. Strategic Moves - Ovintiv optimized its portfolio by acquiring Montney assets for $2.3 billion and divesting Uinta assets for $2 billion, resulting in a $323 million decrease in non-GAAP net debt [5]. - The company plans to invest $1.2-$1.3 billion in the Permian Basin in 2025, targeting the completion of 130 to 140 net new wells [12]. - In Montney, Ovintiv plans to invest $575-$625 million in 2025 to bring 75-85 net wells into production [13]. - For the Anadarko Basin, the company intends to invest between $300 million and $325 million in 2025, targeting 25 to 35 net new wells [14]. Guidance - Ovintiv expects capital expenditure of $600-$650 million for Q1 2025 and $2.15 billion to $2.25 billion for the full year [15]. - Total production volumes are anticipated to average between 575,000 and 595,000 barrels per day in Q1 and between 595,000 and 615,000 barrels per day for the full year [15]. - The company predicts a temporary reduction in production of about 3,000 barrels per day due to recent asset changes but expects production to stabilize in Q2 [17]. - A temporary pause on the share buyback program will redirect approximately $368 million toward debt reduction by the end of Q1 2025, with plans to resume buybacks in Q2 2025 [18].

Financial Data and Key Metrics Changes - The company reported full-year cash flow of $4 billion and generated free cash flow of approximately $1.7 billion, up 50% year-over-year, with over $900 million returned to shareholders [12][14] - Fourth quarter cash flow per share was $3.86, beating consensus estimates by about 7%, and free cash flow totaled more than $450 million [18][19] - Net debt decreased by over $320 million, ending the year at $5.4 billion [14] Business Line Data and Key Metrics Changes - The company maintained 2025 guidance at 205,000 barrels per day, compensating for the sale of 29,000 barrels per day in Uinta and the acquisition of 25,000 barrels per day in Montney [8][20] - The production from the Permian and Montney was highlighted as strong, with fourth quarter oil and condensate volumes averaging approximately 210,000 barrels per day [15] - The Anadarko Basin continues to provide stable production with a low base decline rate of about 16% per year, contributing to free cash flow generation [51] Market Data and Key Metrics Changes - The company expects to generate about $2.1 billion of free cash flow in 2025, an increase of over $300 million year-over-year, assuming commodity prices of $70 WTI and $4 NYMEX gas [21][22] - The company has shifted its price exposure away from weaker pricing hubs like AECO and Waha, with about three-quarters of natural gas pricing expected outside these hubs in 2025 [26] Company Strategy and Development Direction - The company is focused on maximizing returns on invested capital, increasing free cash flow, and further reducing debt, with a capital investment of about $2.2 billion planned for 2025 [20][33] - The strategy includes leveraging a multi-basin portfolio and focusing investments in oil and condensate-rich areas, with expected program-level after-tax returns of approximately 65% to 75% [20][21] - The company plans to restart its share buyback program in the second quarter of 2025, following a pause due to the Montney acquisition [23][78] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate superior returns and free cash flow for years to come, supported by a strong inventory position in the Permian and Montney [5][8] - The anticipated modest impact of potential tariffs on Canadian imports was discussed, with management indicating that the overall effect on cash flow in 2025 would be neutral [109] - The company is optimistic about the operational efficiencies achieved in 2024 and expects continued improvements in 2025 [115][119] Other Important Information - The company has made significant progress in debt reduction, with a target to bring total debt below $5 billion by year-end 2025 [24][77] - The company is actively managing its supply chain to mitigate risks associated with tariffs and geopolitical uncertainties [182][183] Q&A Session All Questions and Answers Question: Comparison of Montney versus Permian - Management highlighted the difficulty in surpassing the current portfolio's value and expressed confidence in the ability to generate free cash flow from both Montney and Permian [60][62] Question: Role of Anadarko in the Portfolio - Management emphasized the unique low decline nature of the Anadarko asset, which supports free cash generation with minimal capital requirements [68][70] Question: Net Debt Target by End of 2025 - Management projected net debt to be well below $5 billion by the end of 2025, with a long-term target of $4 billion by 2026 [77][78] Question: Inventory Analysis and Strategic Standpoint - Management noted that the durable inventory position enhances confidence in free cash generation and profitability, with lower capital and cash costs contributing to higher returns [91][92] Question: Impact of Potential Tariffs - Management anticipates a modest impact from potential tariffs, with proactive measures taken to secure supply chains and manage costs [104][109] Question: Operational Efficiencies and Cost Management - Management indicated that the majority of cost savings in 2025 would come from operational efficiencies rather than deflation, with significant improvements in drilling and completion times [113][115] Question: Future M&A Opportunities - Management stated that while there is potential for future acquisitions, the focus remains on maintaining high standards for capital allocation and inventory quality [123][124] Question: Free Cash Flow Yield Sensitivity - Management acknowledged the sensitivity of free cash flow to gas prices and emphasized the importance of maintaining a balanced capital allocation strategy [130][156] Question: Risk Management through Hedging - Management confirmed a current hedge book covering about 25% of production, with plans to reduce this as leverage improves [142][143]

Ovintiv (OVV) came out with quarterly earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.11 per share. This compares to earnings of $2.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.62%. A quarter ago, it was expected that this energy company would post earnings of $1.09 per share when it actually produced earnings of $1.85, delivering a surprise of 69.72%.Over the last four quarters, the company ha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-39191 Ovintiv Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Suit ...

Exhibit 99.2 Ovintiv Inc. Selected Financial Information (unaudited) For the year ended December 31, 2024 U.S. Dollar / U.S. Protocol Consolidated Statement of Earnings (unaudited) | For the years ended December 31 (US$ millions, except per share amounts) | | 2024 | | 2023 | | 2022 | | --- | --- | --- | --- | --- | --- | --- | | Revenues | | | | | | | | (1) Product and service revenues | $ | 7,358 | $ | 7,812 | $ | 10,183 | | (1) Sales of purchased product | | 1,585 | | 2,849 | | 4,080 | | Gains (losses) on ...

2024 Non-GAAP Free Cash Flow Up Approximately 50% Year-Over-Year Highlights:Full Year 2024 Generated cash from operating activities of $3.7 billion, Non-GAAP Cash Flow of $4.0 billion and Non-GAAP Free Cash Flow of $1.7 billion after capital expenditures of $2.3 billion Produced average total volumes of 585 thousand barrels of oil equivalent per day ("MBOE/d"), including 211 thousand barrels per day ("Mbbls/d") of oil and condensate, 91 Mbbls/d of other NGLs (C2 to C4) and 1,698 million cubic feet per day ( ...