Ovintiv

Ovintiv, Inc. engages in the production and development of oil, natural gas liquids and natural gas producing plays. The firm operates through the following segments: Canadian Operations, USA Operations and Market Optimization. The Canadian Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within Canada. The USA Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within the United States. The Market Optimization segment’s activities are managed by the Midstream, Marketing & Fundamentals team, which is responsible for the sale of the company’s proprietary production to third party customers. The company was founded in 1881 and is headquartered in Denver, CO.

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Ovintiv (OVV) exceeds Q2 earnings expectations, emphasizes sustainable growth

Ovintiv's Q2 2024 earnings call showcased impressive financial performance, strategic focus on sustainable growth, and commitment to shareholder returns. While facing inquiries on operational aspects and financial strategies, the company remains poised to leverage opportunities for value creation and operational excellence.

Ovintiv reports robust Q3 earnings, eyes growth through efficiency

Ovintiv delivered a strong Q3 performance with robust financial results and operational excellence, positioning the company for sustainable growth and profitability.
While facing challenges in capital structure optimization and strategic decision-making, Ovintiv has opportunities to drive growth through operational efficiencies and strategic initiatives.
By maintaining production guidance, capital spending discipline, and a focus on asset performance, Ovintiv demonstrates resilience and a commitment to creating long-term value for shareholders.

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Ovintiv, Inc. engages in the production and development of oil, natural gas liquids and natural gas producing plays. The firm operates through the following segments: Canadian Operations, USA Operations, and Market Optimization. The Canadian Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within Canada. The USA Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within the United States. The Market Optimization segment’s activities are managed by the Midstream, Marketing & Fundamentals team, which is responsible for the sale of the company’s proprietary production to third party customers. The company was founded in 1881 and is headquartered in Denver, CO.

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DENVER , Jan. 11, 2024 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Sippy Chhina has been named as an independent member of its board of directors, effective January 15, 2024. Chhina, 57, recently retired as a Partner at Deloitte Canada LLP, a leading multinational professional services network, where she held various roles since 2006.

Ovintiv Names Sippy Chhina to Board of Directors

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DENVER , Nov. 20, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (the "Company") today announced the upsize and pricing of a previously announced underwritten public offering of its common stock (the "Offering") by NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"). The size of the Offering increased from the previously announced 8,400,000 shares to an aggregate of 9,400,000 shares of the Company's common stock at a price to the public of US$44.35 per share, for gross proceeds of approximately US$416.9 million, before underwriting discount and estimated offering expenses.

Ovintiv Announces Upsize and Pricing of Offering of Common Stock by a Selling Stockholder

DENVER , Nov. 20, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV), (TSX: OVV) (the "Company" or "Ovintiv") today announced that NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"), intends to offer for sale 8,400,000 shares of the Company's common stock, par value US$0.01 per share, pursuant to the Company's shelf registration statement previously filed with the Securities and Exchange Commission (the "Offering"). Ovintiv issued the shares to the Selling Stockholder on June 12, 2023 as part of the consideration for the Company's acquisition of certain upstream oil and gas assets located in the Permian Basin from portfolio companies of funds managed by EnCap Investments L.P.

Ovintiv Announces Secondary Offering of Common Stock by a Selling Stockholder

Ovintiv (OVV) anticipates capital spending in the $660-$700 million range for the fourth quarter of 2023, and in the band of $2.75-$2.79 billion for the full year.

Ovintiv (OVV) Q3 Earnings Miss Estimates, Revenues Beat

Ovintiv Inc. (NYSE:OVV ) Q3 2023 Results Conference Call November 8, 2023 12:00 PM ET Company Participants Jason Verhaest - IR Brendan McCracken - President and CEO Corey Code - EVP and CFO Greg Givens - EVP and COO Conference Call Participants Neal Dingmann - Truist Securities Gabe Daoud - TD Cowen Doug Leggate - Bank of America Scott Gruber - Citigroup Umang Choudhary - Goldman Sachs Greg Pardy - RBC Capital Markets Roger Read - Wells Fargo Operator Good day, ladies and gentlemen and thank you for standing by. Welcome to Ovintiv's 2023 Third Quarter Results Conference Call.

Ovintiv Inc. (OVV) Q3 2023 Earnings Call Transcript

While the top- and bottom-line numbers for Ovintiv (OVV) give a sense of how the business performed in the quarter ended September 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Ovintiv (OVV) Reports Q3 Earnings: What Key Metrics Have to Say

Strong Well Results and Successful Acquisition Integration Drive Increased Full Year Production Guidance Highlights: Generated net earnings of $406 million, cash from operating activities of $906 million, Non-GAAP Cash Flow of $1,112 million and Non-GAAP Free Cash Flow of $278 million after capital expenditures of $834 million Third quarter production was at or above the high end of guidance on every product with average total production volumes of 572 thousand barrels of oil equivalent per day ("MBOE/d"), including 214 thousand barrels per day ("Mbbls/d") of oil and condensate, 87 Mbbls/d of other NGLs (C2 to C4) and 1,625 million cubic feet per day ("MMcf/d") of natural gas Increased full year 2023 production guidance and tightened the range for full year capital guidance Returned $127 million to shareholders through the combination of base dividend payments and share buybacks Received regulatory approval for the renewal of the Company's normal course issuer bid, or NCIB program, enabling the Company to purchase up to approximately 26.7 million shares of common stock over a 12-month period ending October 2, 2024 DENVER , Nov. 7, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today announced its third quarter 2023 financial and operating results. The Company plans to hold a conference call and webcast at 10:00 a.m.

Ovintiv Reports Third Quarter 2023 Financial and Operating Results

Ovintiv (OVV) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Why Ovintiv (OVV) Might Surprise This Earnings Season

Investors with an interest in Oil and Gas - Exploration and Production - Canadian stocks have likely encountered both Ovintiv (OVV) and Canadian Natural Resources (CNQ). But which of these two stocks presents investors with the better value opportunity right now?

OVV vs. CNQ: Which Stock Is the Better Value Option?

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Ovintiv (OVV) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Can Ovintiv (OVV) Run Higher on Rising Earnings Estimates?

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DENVER , Oct. 10, 2023 Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its third quarter 2023 results conference call at 10:00 a.m. MT, on Wednesday November 8, 2023.

Ovintiv to Host its Third Quarter 2023 Results Conference Call and Webcast on November 8, 2023

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Ovintiv's Permian acquisition boosted its oil and condensate production to above 200,000 barrels per day. The increased production and strong oil prices led to a projection of over $800 million in 2H 2023 free cash flow at the current strip. OVV is also projected to generate approximately $2.2 billion in free cash flow in 2024 at the current strip.

Ovintiv May Generate Around $3 Billion In Free Cash Flow By The End Of 2024

DENVER , Sept. 11, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) ( TSX: OVV) (the "Company") today announced the pricing of an underwritten public offering of 15,000,000 shares of its common stock by NMB Stock Trust, a Delaware statutory trust (the "Selling Stockholder"), for gross proceeds of approximately US$684.8 million (the "Offering").

Ovintiv Announces Pricing of Offering of Common Stock by a Selling Stockholder

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Ovintiv (OVV) anticipates total production volumes to average between 540,000 and 560,000 barrels per day (bpd) for the third quarter and between 535,000 and 550,000 bpd for the year.

Ovintiv (OVV) Surpasses Q2 Earnings and Revenue Estimates

The headline numbers for Ovintiv (OVV) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Ovintiv (OVV) Reports Q2 Earnings: What Key Metrics Have to Say

Ovintiv (OVV) came out with quarterly earnings of $0.93 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $2.42 per share a year ago.

Ovintiv (OVV) Tops Q2 Earnings and Revenue Estimates

Strong Results Across Portfolio Drive Higher Full Year Production Guidance and Reduced Capital and Per Unit Cost Guidance Second Quarter 2023 Highlights: Generated net earnings of $336 million, cash from operating activities of $831 million, Non-GAAP Cash Flow of $699 million and Non-GAAP Free Cash Flow of $59 million after capital expenditures of $640 million Exceeded second quarter production guidance on every product with average total production volumes of 573 thousand barrels of oil equivalent per day ("MBOE/d"), including 186 thousand barrels per day ("Mbbls/d") of oil and condensate, 97 Mbbls/d of other NGLs (C2 to C4) and 1,743 million cubic feet per day ("MMcf/d") of natural gas Increased full year 2023 production guidance and lowered both full year 2023 capital and per unit cost guidance Closed the previously announced acquisition of Midland Basin assets, which added approximately 65,000 net acres and approximately 1,050 net well locations to Ovintiv's Permian inventory Closed the previously announced sale of Ovintiv's Bakken assets, representing the Company's exit from the play Announced inclusion on the S&P 400 index effective June 20, 2023 Returned $172 million to shareholders through the combination of base dividend payments and share buybacks Announced a 20% increase to quarterly per share dividend payment representing an annualized dividend of $1.20 per share of common stock DENVER , July 27, 2023 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today announced its second quarter 2023 financial and operating results. The Company plans to hold a conference call and webcast at 9:00 a.m.

Ovintiv Reports Second Quarter 2023 Financial and Operating Results

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