Ovintiv Inc.
- Open
- 57.39
- Day high
- 58.68
- Day low
- 56.99
- Prev close
- 57.79
- Volume
- 3.7M
- Mkt cap
- $16.2B
- P/E (TTM)
- 18.7
- EPS (TTM)
- $3.09
- P/B
- 1.4
- P/S
- 1.8
- Yield
- 2.08%
- Per share
- $1.20
Ovintiv Inc. (OVV) is a Energy company listed on NYSE. The stock is up 50% over the past year.
Ovintiv Inc. (OVV) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OVV earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $1.85 | $2.00 | +8.1% | $2.5B | +6.2% |
| Feb 23, 2026 | $0.98 | $1.39 | +41.8% | $2.1B | +0.4% |
| Nov 4, 2025 | $0.95 | $1.03 | +8.6% | $2.0B | +1.9% |
| Jul 24, 2025 | $1.04 | $1.02 | -1.9% | $2.3B | +21.8% |
| Feb 26, 2025 | $1.23 | $1.35 | +9.8% | $2.2B | -4.8% |
| Nov 7, 2024 | $1.14 | $1.85 | +62.3% | $2.3B | +4.3% |
| Feb 27, 2024 | $1.95 | $2.35 | +20.5% | $2.8B | +3.6% |
| Jul 27, 2023 | $0.91 | $0.93 | +2.2% | $2.5B | +0.1% |
| Feb 27, 2023 | $1.75 | $0.91 | -48.0% | $3.2B | +19.5% |
| Aug 3, 2022 | $2.69 | $2.42 | -10.0% | $3.7B | +37.7% |
| Feb 24, 2022 | $1.64 | $1.25 | -23.8% | $3.3B | +62.8% |
| Nov 2, 2021 | $1.47 | $1.50 | +2.0% | $1.8B | -6.7% |
OVV insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Moore Rachel Maureenofficer: EVP, Corporate Services | Grant | 208 | — |
| Jul 2, 2026 | Eilers Meghan Nicoleofficer: EVP, Commercial & Legal Affs. | Grant | 263 | — |
| Jul 2, 2026 | Chhina Sippydirector | Grant | 15 | — |
| Jul 2, 2026 | King Terri Gaydirector | Grant | 3 | — |
| Jul 2, 2026 | Code Corey Douglasofficer: EVP & CFO | Grant | 16 | — |
| Jul 2, 2026 | Mayson Howard Johndirector | Grant | 56 | — |
| Jul 2, 2026 | Givens Gregory Deanofficer: EVP & COO | Grant | 441 | — |
| Jul 2, 2026 | Shaw Brian Gordondirector | Grant | 208 | — |
| Jul 2, 2026 | McCracken Brendan Michaeldirector, officer: President & CEO | Grant | 1,271 | — |
| Jul 2, 2026 | Code Corey Douglasofficer: EVP & CFO | Grant | 386 | — |
| Jul 2, 2026 | Gentle Megdirector | Grant | 67 | — |
| Jul 2, 2026 | IZZO RALPHdirector | Grant | 41 | — |
| May 26, 2026 | Chhina Sippydirector | Grant | 3,505 | — |
| May 26, 2026 | King Terri Gaydirector | Option | 3,510 | — |
| May 26, 2026 | Shaw Brian Gordondirector | Tax | 1,683 | $82.46 |
Source: OVV SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full OVV insider & 13F page →Ovintiv Inc. company profile
Overview
Ovintiv Inc. (NYSE:OVV) is a North American oil and gas exploration and production company that was formerly known as Encana Corporation until its rebranding in January 2020. The company was incorporated in 2020 and is headquartered in Denver, Colorado, though it maintains significant operations in Canada. Ovintiv has evolved from a traditional natural gas producer into a diversified energy company with a strategic focus on unconventional oil and liquids-rich natural gas production across multiple premier North American basins.
Business
Ovintiv operates in the upstream oil and gas industry, which involves the exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs). The company's business is centered around unconventional resource development, which refers to extracting oil and gas from tight rock formations using advanced drilling and completion techniques like hydraulic fracturing (fracking) and horizontal drilling. The company operates through three main segments that collectively generated approximately $9.2 billion in revenue for 2024: 1. USA Operations (~75% of production): This segment includes the company's most valuable assets in the Permian Basin of west Texas, the Anadarko Basin in west-central Oklahoma, the Bakken formation in North Dakota, and the Uinta Basin in central Utah. The Permian Basin is particularly significant, producing approximately 120,000 barrels of oil and condensate per day. 2. Canadian Operations (~25% of production): Primarily focused on the Montney formation in northeast British Columbia and northwest Alberta, which produces both oil/condensate and natural gas. The company also has legacy assets in the Horn River and Wheatland areas. The Montney produces about 55,000 barrels of oil and condensate per day. 3. Market Optimization: This smaller segment handles the marketing and transportation of the company's production, including gas processing and NGL extraction. Ovintiv's production portfolio is strategically balanced, with approximately 205,000 barrels per day of higher-value oil and condensate production, complemented by natural gas production of roughly 2.3 billion cubic feet per day. The company has built what management describes as 15-20 years of premium drilling inventory across its core assets, providing long-term development visibility.
Revenue model
Ovintiv generates revenue primarily through the direct sale of produced commodities - crude oil, natural gas, and natural gas liquids - to various purchasers including refineries, pipeline companies, and marketing intermediaries. The company's business model is fundamentally tied to commodity prices, with revenue fluctuating based on market prices for West Texas Intermediate (WTI) crude oil, Henry Hub natural gas, and regional pricing differentials. The company's financial performance is highly sensitive to several key factors. Commodity price volatility represents the most significant driver of profitability, with management building their business model around mid-cycle assumptions of $55 WTI oil and $2.75 NYMEX natural gas. Higher commodity prices directly translate to increased margins, while lower prices can quickly erode profitability. Operational efficiency improvements have been a major margin enhancer, with the company achieving significant cost reductions through faster drilling speeds, improved completion techniques like their proprietary Trimulfrac technology, and data-driven optimization across their asset base. Transportation and processing costs can significantly impact realized prices, particularly for natural gas where regional pricing differentials can be substantial. The company has been actively diversifying away from disadvantaged pricing points like AECO in Canada and Waha in Texas. Service cost inflation represents a headwind, with the company expecting 10-20% increases in capital costs due to inflationary pressures on drilling rigs, completion crews, and materials. The company's capital-intensive nature means that capital allocation discipline is crucial for returns. Ovintiv has maintained a strategy of returning approximately 50% of free cash flow to shareholders while using the remainder for debt reduction, rather than pursuing aggressive growth that might diminish per-share returns.
Competitive moat
Ovintiv's competitive position is built on several defensive characteristics, though the company operates in a fundamentally commoditized industry with limited sustainable moats. The company's primary competitive advantages include high-quality acreage positions in premier unconventional basins, particularly in the Permian and Montney formations, where geology and well economics are superior to marginal areas. The company has assembled contiguous acreage blocks that enable efficient cube development and shared infrastructure, reducing per-unit development costs. Operational expertise and technological innovation provide some competitive advantage, with Ovintiv demonstrating consistent improvements in drilling speeds, completion effectiveness, and well productivity. Their development of techniques like Trimulfrac completions and data-driven optimization across basins has helped maintain cost leadership. The company's multi-basin portfolio provides some diversification benefits and capital allocation optionality that single-basin operators lack. However, these advantages are relatively modest in the context of the broader industry. Technological innovations in the oil and gas sector typically become widely adopted within a few years, limiting sustainable competitive advantages. The company faces significant competitive threats from larger integrated oil companies with deeper pockets, private equity-backed operators with lower cost of capital, and the ongoing energy transition toward renewable sources. Commodity price exposure means that even the most efficient operators can struggle during prolonged downturns. The company's scale, while substantial, is not dominant enough to provide significant cost advantages over other major unconventional producers. Ovintiv's moat is best characterized as modest and primarily operational, relying on execution excellence rather than structural competitive advantages.
Risks & safety
Ovintiv presents a moderate margin of safety profile with some concerning liquidity metrics but reasonable debt levels and attractive valuation. • Liquidity concerns: Current ratio of 0.43 indicates potential short-term liquidity pressure, though the company maintains $3.5 billion in available liquidity including credit facilities • Debt management: Total debt of approximately $6.9 billion with debt-to-equity ratio of 0.67; management targeting debt reduction to $4 billion over time • Cash generation: Strong free cash flow of $1.4 billion in 2024 demonstrates ability to service debt and return capital to shareholders • Valuation metrics: Trading at attractive multiples with P/E of 9.5x, EV/EBITDA of 4.2x, and price-to-book of 1.04x • Operational breakeven: Management states post-dividend breakeven below $40 WTI, providing cushion at current oil prices • Commodity exposure: Significant sensitivity to oil and gas price volatility remains the primary risk factor • Capital discipline: Demonstrated commitment to maintaining capital spending discipline and returning excess cash to shareholders
Recent development
Over the past several years, Ovintiv has undergone significant strategic transformation focused on portfolio optimization and operational excellence. The company has systematically high-graded its asset base, particularly through strategic acquisitions in the Permian Basin that doubled their premium drilling inventory since 2021, adding approximately 1,650 premium drilling locations. This has positioned the company with what management describes as 15-20 years of premium inventory across their core assets. Technological innovation has been a key focus, with the company developing and implementing proprietary completion techniques like Trimulfrac technology, which has been deployed across over 50% of their Permian wells, reducing completion costs while improving productivity. The company has achieved significant operational efficiencies, with Permian drilling speeds improving 28% year-over-year to 2,170 feet per day, while Montney drilling reached 1,820 feet per day. The company has also pursued strategic portfolio rationalization, maintaining a disciplined approach to capital allocation with a focus on free cash flow generation rather than production growth. Management has consistently emphasized getting "better, not bigger," with a high bar for acquisitions and a preference for operational improvements over scale expansion. ESG initiatives have gained prominence, with the company achieving a 42% reduction in greenhouse gas emissions intensity from their 2019 baseline and inclusion in the Bloomberg Gender Equality Index. The company has also enhanced its financial flexibility through debt reduction, lowering long-term debt by over $1 billion since 2022 while maintaining a consistent shareholder return program.
OVV company profile · for informational purposes only — not investment advice.
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