Shares of Ovintiv (OVV) have gained 1.4% over the past four weeks to close the last trading session at $41.79, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $58.30 indicates a potential upside of 39.5%.The average comprises 20 short-term price targets ranging from a low of $42 to a high of $70, with a standard deviation of $6.91. While the lowest estimate indicates an increase ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value ...

A downtrend has been apparent in Ovintiv (OVV) lately. While the stock has lost 5.7% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of t ...

Shares of Ovintiv (OVV) have gained 10.7% over the past four weeks to close the last trading session at $44.24, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $58.80 indicates a potential upside of 32.9%.The mean estimate comprises 20 short-term price targets with a standard deviation of $5.92. While the lowest estimate of $48 indicates an 8.5% increase from the current price l ...

Core Viewpoint - Value investing remains a preferred strategy for identifying strong stocks, focusing on companies believed to be undervalued based on fundamental analysis [2] Company Overview: Ovintiv (OVV) - Ovintiv holds a Zacks Rank of 2 (Buy) and a Value grade of A, indicating strong potential as a value stock [4] - The stock has a P/E ratio of 9.17, significantly lower than the industry average P/E of 13.32, suggesting it may be undervalued [4] - Over the past 52 weeks, OVV's Forward P/E has fluctuated between 4.81 and 9.97, with a median of 7.32 [4] Valuation Metrics - Ovintiv's P/B ratio is 1.11, which is favorable compared to the industry's average P/B of 1.99, indicating solid valuation [5] - The P/B ratio has ranged from 0.94 to 1.45 over the past year, with a median of 1.18 [5] - The P/CF ratio for Ovintiv is 2.76, which is significantly lower than the industry's average P/CF of 5.61, further supporting its undervaluation [6] - The P/CF ratio has varied between 2.33 and 3.82 in the last 12 months, with a median of 2.98 [6] Investment Outlook - The combination of favorable valuation metrics and a strong earnings outlook positions Ovintiv as an impressive value stock currently [7]

Ovintiv Inc. (OVV) reported third-quarter 2024 adjusted earnings per share of $1.85, which beat the Zacks Consensus Estimate of $1.09. The beat can be attributed to better-than-expected total production, which exceeded the consensus mark by 3% and a 17.4% year-over-year reduction in expenses. Additionally, the bottom line increased from the year-ago level of $1.74.The Denver, CO-based oil and gas exploration and production company’s total revenues of $2.3 billion decreased 12.3% from the year-ago quarter’s ...

Ovintiv Inc. (OVV) has announced two major deals on Nov. 14, 2024 — one for the acquisition of premium Montney assets from Paramount Resources Ltd. for about $2.4 billion and the other for the sale of almost all its Uinta Basin assets to FourPoint Resources, LLC, for about $2.0 billion.An Insight Into OVV’s Purchase AgreementOVV, per the terms of the purchase agreement, will acquire 109,000 net acres, 70,000 barrels of oil equivalent per day and 900 total net well locations in the oil-rich Alberta Montney.T ...

Transaction to Significantly Expand Existing Montney Premium Oil Inventory, Company to Exit Uinta Basin with Asset SaleHighlights: 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, extendi ...

Financial Performance - 3Q24 diluted earnings per share were $1.92[10] - 3Q24 diluted cash flow per share was $3.70[11] - 3Q24 free cash flow was $440 million[11] - The 3Q24 free cash flow yield was 17%[12] - 60% of 2Q24 free cash flow was returned to shareholders in 3Q24[20] - Debt reduction in 3Q24 amounted to $210 million[23] Shareholder Returns - Approximately $2.7 billion has been returned to shareholders, including ~$850 million in base dividends and ~$1.85 billion in buybacks[17] - Over 40 million shares have been repurchased since 3Q21[17, 21] - $181 million in buybacks are expected in 4Q24[17] - The 3Q24 cash return yield was 9%[19] Operational Performance & Guidance - 3Q24 oil & condensate production was 212 Mbbls/d, exceeding guidance of 204-208 Mbbls/d[16] - 3Q24 total production was 593 MBOE/d, exceeding guidance of 565-580 MBOE/d[16] - Capital expenditure for 3Q24 was $538 million, below the guidance midpoint of $530-$570 million[16] - Full year 2024 capital expenditure is projected to be ~$2300 million[39, 42] - Updated full year 2024 total production guidance is 583-587 MBOE/d[40]

Group 1 - Ovintiv Inc. plans to hold its third quarter 2024 results conference call on November 8, 2024, at 7:00 a.m. MT [1] - The financial and operating results will be released after market close on November 7, 2024 [1] - Supplemental slides and financial statements will be available on the company's website [1] Group 2 - Investors can join the conference call by registering online or dialing in directly [2] - The toll-free number for North America is 888-510-2154, and the international number is 437-900-0527 [2] - Participants are advised to join approximately 15 minutes prior to the call [2] Group 3 - A live audio webcast of the event will be available on Ovintiv's website and archived for approximately 90 days [3] - Additional information about Ovintiv Inc. can be found on their official website [3] - Investor and media contact information is provided for further inquiries [3]