Group 1 - Ovintiv reported quarterly earnings of $1.42 per share, exceeding the Zacks Consensus Estimate of $1.20 per share, but slightly down from $1.44 per share a year ago, representing an earnings surprise of 18.33% [1] - The company achieved revenues of $2.38 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 3.34%, and showing a slight increase from $2.35 billion year-over-year [2] - Ovintiv has consistently surpassed consensus EPS estimates over the last four quarters, achieving this four times [2] Group 2 - The stock has underperformed the market, losing about 15% since the beginning of the year compared to the S&P 500's decline of 3.9% [3] - The current consensus EPS estimate for the upcoming quarter is $1.23 on revenues of $2.25 billion, and for the current fiscal year, it is $5.33 on revenues of $9.21 billion [7] - The Zacks Industry Rank for Oil and Gas - Exploration and Production - Canadian is in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Financial Performance - Total revenues for Q1 2025 were $2,377 million, a slight increase of 1.1% compared to $2,352 million in Q1 2024[2] - Net loss for Q1 2025 was $159 million, compared to net earnings of $338 million in Q1 2024, representing a significant decline[2] - Operating expenses increased to $2,466 million in Q1 2025, up from $1,858 million in Q1 2024, primarily due to impairments of $730 million[2] - Basic and diluted net earnings (loss) per share for Q1 2025 were both $(0.61), compared to $1.25 in Q1 2024[2] - Cash from operating activities for Q1 2025 was $873 million, an increase from $659 million in Q1 2024[7] - Capital expenditures in Q1 2025 were $617 million, compared to $591 million in Q1 2024[7] - The company reported acquisitions totaling $2,310 million in Q1 2025, significantly higher than $190 million in Q1 2024[7] - Shareholders' equity decreased to $10,080 million as of March 31, 2025, down from $10,331 million at the end of 2024[6] - The company had a weighted average of 260.4 million shares outstanding in Q1 2025, compared to 269.7 million in Q1 2024[9] Production and Operations - In Q1 2025, total production volumes reached 588.3 MBOE/d, a slight increase from 585.0 MBOE/d in 2024[13] - Oil production averaged 150.5 Mbbls/d in Q1 2025, compared to 168.3 Mbbls/d for the entire year of 2024[13] - The company reported a total of 294.4 Mbbls/d for oil and NGLs production in Q1 2025, compared to 299.3 Mbbls/d in Q1 2024, a decrease of 1.6%[25] - Total oil production in Q1 2025 reached 150.5 Mbbls/d, a decrease of 11.7% compared to Q1 2024's 170.4 Mbbls/d[23] - Total production (MBOE/d) in Q1 2025 was 588.3 MBOE/d, slightly up from 573.8 MBOE/d in Q1 2024[27] - Natural gas production in Q1 2025 was 1,764 MMcf/d, an increase of 7.0% from Q1 2024's 1,648 MMcf/d[27] - The Montney region in Canada produced 1,251 MMcf/d of natural gas in Q1 2025, up from 1,093 MMcf/d in Q1 2024, representing a 14.5% increase[27] - The company plans to focus on expanding its operations in the Permian and Montney regions to enhance production efficiency and growth[23] Revenue and Pricing - Revenues from USA operations for Q1 2025 were $1,310 million, with oil revenues contributing $975 million[15] - Total upstream product revenue for USA operations in Q1 2025 was $1,310 million, a decrease of 10.6% from Q1 2024's $1,466 million[47] - Total upstream product revenue for Canadian operations in Q1 2025 was $652 million, down from $470 million in Q1 2024, representing a 38.5% increase[47] - The average price received for oil in USA operations was $46.02 per BOE in Q1 2025, compared to $46.85 per BOE in Q1 2024[18] - Total operations price per BOE for Q1 2025 is $37.03, compared to $36.97 in Q1 2024, indicating a slight increase of 0.2%[20] - Total operations natural gas price for Q1 2025 is $2.98 per Mcf, up from $2.21 in Q1 2024, representing a 34.9% increase[20] - USA Operations oil price for Q1 2025 is $71.79 per barrel, a decrease from $76.17 in Q1 2024, reflecting a 5.8% decline[20] - Canadian Operations oil price for Q1 2025 is $71.46 per barrel, consistent with $72.34 in Q1 2024, reflecting a marginal decrease of 1.2%[20] Debt and Equity - The company's debt to EBITDA ratio increased to 1.6x in Q1 2025 from 1.3x in 2024, indicating a rise in leverage[11] - The company reported a debt to adjusted capitalization of 24% in Q1 2025, up from 23% in 2024[11] - The company's long-term debt, including the current portion, stood at $5,538 million, resulting in a debt to capitalization ratio of 35%[38] - The company reported a net debt of $5,530 million after accounting for cash and cash equivalents of $8 million[42] Cash Flow and Capital Expenditures - Non-GAAP cash flow for YTD 2025 was reported at $1,004 million, resulting in a non-GAAP free cash flow of $387 million after capital expenditures of $617 million[35] - Total capital expenditures for Q1 2025 reached $617 million, with a year-to-date total of $2,303 million, reflecting a slight increase compared to previous quarters[29] - Future capital expenditures are projected to focus on key operational areas, including the Permian and Montney plays, to enhance production capabilities[29] Operational Efficiency - Operating margin and netback metrics are utilized by management to assess the profitability of operations, although specific figures were not disclosed[42] - Total operating netback for USA operations in Q1 2025 was $33.22 per BOE, an increase of 5.4% from $31.48 per BOE in Q4 2024[50] - Total operating netback for Canadian operations in Q1 2025 was $13.58 per BOE, significantly up from $9.00 per BOE in Q1 2024, marking a 50.9% increase[50] - The company drilled a total of 65 net wells in Q1 2025, with 44 wells in USA operations and 21 in Canadian operations, indicating a robust drilling activity[31]

Core Viewpoint - Ovintiv Inc. reported strong first quarter 2025 results, emphasizing operational excellence and free cash flow generation, while maintaining capital investment plans amidst market volatility [3][4][5]. Financial Performance - Generated cash from operating activities of $873 million, with Non-GAAP Cash Flow of $1,004 million and Non-GAAP Free Cash Flow of $387 million after capital expenditures of $617 million [7][8]. - The company recorded a net loss of $159 million, or $(0.61) per diluted share, which included a non-cash ceiling test impairment of $557 million after tax [8][26]. - Average total production was approximately 588 MBOE/d, exceeding guidance, with oil and condensate production at 206 Mbbls/d [7][8]. Production and Capital Investment - Full year production volumes are expected to average between 595 to 615 MBOE/d, with capital investment projected at $2.15 billion to $2.25 billion [5][6]. - Specific production averages for the first quarter included 217 MBOE/d from Permian, 272 MBOE/d from Montney, and 91 MBOE/d from Anadarko [14][15][16]. Shareholder Returns - The company plans to return at least 50% of post-base dividend Non-GAAP Free Cash Flow to shareholders through buybacks and/or variable dividends [9]. - Share buybacks were temporarily paused in Q4 2024 but resumed in Q2 2025, with approximately $146 million expected to be repurchased [10]. Balance Sheet and Liquidity - As of March 31, 2025, Ovintiv had approximately $3.5 billion in total liquidity, including available credit facilities and cash [11]. - The company reported a Debt to EBITDA ratio of 1.6 times and a Non-GAAP Debt to Adjusted EBITDA ratio of 1.2 times [11][30]. Sustainability Initiatives - The company achieved a greater than 45% reduction in Scope 1 & 2 greenhouse gas emissions intensity since 2019, continuing progress towards a 50% reduction goal by 2030 [25]. - Released its 2024 Sustainability Report, highlighting efforts in environmental responsibility and corporate governance [17][18].

Company Overview - Ovintiv (OVV) is expected to report a year-over-year decline in earnings due to lower revenues for the quarter ended March 2025, with a consensus EPS estimate of $1 per share, reflecting a -30.6% change [1][3] - Revenues are anticipated to be $2.34 billion, down 0.7% from the same quarter last year [3] Earnings Estimates and Revisions - The consensus EPS estimate has been revised 10.06% lower in the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4][10] - The Most Accurate Estimate for Ovintiv is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -2.51% [10][11] Earnings Surprise History - Ovintiv has a history of beating consensus EPS estimates, having surpassed expectations in the last four quarters [12][13] - In the last reported quarter, Ovintiv was expected to post earnings of $1.11 per share but delivered $1.35, resulting in a surprise of +21.62% [12] Industry Comparison - In the Zacks Oil and Gas - Exploration and Production - Canadian industry, Canadian Natural Resources (CNQ) is expected to post earnings of $0.73 per share for the quarter ended March 2025, indicating a year-over-year change of +43.1% [17] - CNQ's revenue is projected to be $6.8 billion, up 11.2% from the previous year [17] - The consensus EPS estimate for CNQ has been revised 12.9% lower over the last 30 days, resulting in an Earnings ESP of 0.00% [18]

Core Viewpoint - Ovintiv (OVV) shares have shown a modest gain of 0.4% over the past month, closing at $45.41, with analysts suggesting a potential upside of 29.1% based on a mean price target of $58.62 [1] Price Targets and Analyst Estimates - The mean estimate consists of 21 short-term price targets with a standard deviation of $7.17, indicating variability among analysts; the lowest estimate is $42 (7.5% decline), while the highest is $73 (60.8% increase) [2] - A low standard deviation signifies strong agreement among analysts regarding the stock's price movement direction, which can serve as a starting point for further research [7] Earnings Estimates and Analyst Sentiment - Analysts have shown growing optimism regarding OVV's earnings prospects, as evidenced by a positive trend in earnings estimate revisions, which correlates with near-term stock price movements [9] - The Zacks Consensus Estimate for the current year has risen by 6.4% over the past month, with no negative revisions reported [10] - OVV holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, indicating strong potential for upside [11] Caution on Price Targets - While consensus price targets are a popular metric, relying solely on them for investment decisions may not be prudent due to historical inaccuracies in predicting stock price movements [5][8] - Analysts often set optimistic price targets influenced by business relationships, which can lead to inflated estimates [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 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) Delaware 84-4427672 (State or other jurisdiction of incorporation or organization) ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 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) Delaware 84-4427672 (State or other jurisdiction of incorporation or organization) (I.R.S ...