Ovintiv Inc Stock Price, News & Analysis

Ovintiv Inc. (NYSE: OVV) held its 2025 Annual Meeting of Shareholders on May 1, 2025, where several key matters were voted upon. All eleven nominated directors were successfully elected with strong approval ratings, with most receiving over 95% of votes in favor. The company's shareholders also approved other significant measures including: a non-binding advisory vote on executive compensation (93.96% approval), the Third Amendment to the Omnibus Incentive Plan (96.98% approval), and the ratification of PricewaterhouseCoopers LLP as independent auditors (96.24% approval). Notable directors elected include Peter A. Dea, Brendan M. McCracken, and Terri G. King, with King receiving one of the highest approval ratings at 99.81%.

Ovintiv Inc. (NYSE: OVV) (TSX: OVV) has scheduled its first quarter 2025 financial results announcement. The company will release its financial and operating results after market close on Tuesday, May 6, 2025, followed by a conference call at 8:00 a.m. MT on Wednesday, May 7, 2025.

Investors can access the conference call through automated registration or direct operator assistance. Supplemental materials, including slides and financial statements, will be available on the company's website. The live audio webcast and presentation slides will be accessible through Ovintiv's website under the Investors/Presentations and Events section and will remain archived for approximately 90 days.

Ovintiv reported strong financial results for 2024, with a 50% year-over-year increase in Non-GAAP Free Cash Flow. The company generated $3.7 billion in operating cash flow and $1.7 billion in free cash flow after $2.3 billion in capital expenditures.

Key operational highlights include average total production of 585 MBOE/d, including 211 Mbbls/d of oil and condensate. The company returned over $900 million to shareholders through dividends and buybacks. Two strategic transactions were completed: the acquisition of oil-rich Montney assets for $2.3 billion and the sale of Uinta assets for $2.0 billion.

For 2025, Ovintiv announced a capital program of $2.15-2.25 billion, targeting production of 595-615 MBOE/d. The company maintains strong financial health with a debt-to-EBITDA ratio of 1.3x and total liquidity of $3.6 billion as of December 31, 2024.

Ovintiv (NYSE: OVV) has completed its previously announced acquisition of Montney assets from Paramount Resources The transaction, valued at approximately $2.307 billion (C$3.325 billion), adds significant resources to Ovintiv's portfolio, including:

- 70 thousand barrels of oil equivalent per day of production
- 900 net 10,000 foot equivalent well locations
- 109,000 net acres of strategically located land near current Montney operations

The acquisition extends Ovintiv's premium Montney oil and condensate inventory life to approximately 15 years. Combined with the recently closed Uinta asset sale, the transaction is expected to increase 2025 Non-GAAP Free Cash Flow by approximately $300 million at current commodity strip pricing. The company realized losses of approximately $97 million associated with currency swaps used to manage Canadian dollar exchange risk.

Ovintiv Inc. (NYSE: OVV) has appointed Terri G. King as an independent member of its board of directors, effective January 31, 2025. King, 63, recently retired from ConocoPhillips where she served as Chief Commercial Officer and Vice President. Her extensive career at ConocoPhillips included roles as President of Lower 48, President of Europe & North Africa, President of United Kingdom, and General Manager of Global Production.

King holds a Bachelor of Science in engineering science from Trinity University and an MBA from the University of Houston. She is also a licensed Professional Engineer. This appointment represents Ovintiv's third new independent director in three years, demonstrating the company's ongoing board refreshment process.

Ovintiv (NYSE, TSX: OVV) has successfully closed the previously announced sale of its Uinta assets in Utah to FourPoint Resources, for approximately $2 billion in an all-cash transaction. The company's CEO, Brendan McCracken, emphasized that this sale aligns with their strategy of unlocking value from non-core assets while focusing on core areas and extending inventory runway.

Additionally, Ovintiv's previously announced acquisition of Alberta Montney assets from Paramount Resources is expected to close before the end of the first quarter.

Ovintiv (NYSE: OVV) (TSX: OVV) has announced its upcoming 2024 fourth quarter and year-end results conference call, scheduled for February 27, 2025, at 9:00 a.m. MT. The company will release its financial and operating results after market close on February 26, 2025.

Investors can access supplemental slides and financial statements on the company's website at www.ovintiv.com. Participants can join the conference call through automated registration or dial directly at 888-510-2154 (toll-free in North America) or 437-900-0527 (international) approximately 15 minutes before the call.

A live audio webcast including slides will be available on Ovintiv's website under Investors/Presentations and Events section and will remain archived for approximately 90 days.

Ovintiv has announced two major transactions: a $2.377 billion acquisition of Montney assets from Paramount Resources and a $2.0 billion sale of its Uinta Basin assets. The Montney acquisition adds approximately 70 MBOE/d of production, 900 net well locations, and 109,000 net acres in Alberta. The combined transactions are expected to increase 2025 Non-GAAP Free Cash Flow by $300 million and generate annual cost synergies of $125 million. The company will temporarily pause its share buyback program until Q2 2025 to manage the net difference of $377 million between the transactions.

Ovintiv reported strong Q3 2024 results with net earnings of $507 million and cash from operating activities of $1,022 million. Production exceeded guidance with 593 MBOE/d, including 212 Mbbls/d of oil and condensate. The company returned $240 million to shareholders through dividends and buybacks, while reducing total debt by $210 million to $5.88 billion. Full-year production guidance was raised to 583-587 MBOE/d, with capital guidance narrowed to $2.275-2.325 billion. Operating costs remained below guidance, and the company maintained strong operational execution across its key assets in Permian, Montney, Uinta, and Anadarko basins.