Welcome to our dedicated page for Ovintiv news (Ticker: OVV), a resource for investors and traders seeking the latest updates and insights on Ovintiv stock.
Ovintiv Inc. reports news tied to its North American exploration and production business, which develops and markets oil, natural gas liquids and natural gas through U.S. and Canadian operations. Company updates commonly cover operating and financial results, production mix, capital spending, shareholder returns through dividends and repurchases, and balance-sheet actions.
Recurring developments also include portfolio changes, such as completed acquisitions and asset sales, along with debt reduction, note redemption and other capital-structure matters. Governance coverage includes annual meeting vote results, director elections, executive compensation advisory votes, auditor ratification and board committee appointments.
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Ovintiv Inc. (NYSE: OVV) has announced its first quarter 2023 results conference call scheduled for 9:00 a.m. MT on May 10, 2023. Investors can expect the financial and operational results to be released after market close on May 9, 2023. Alongside the results, supplemental slides and financial statements will be accessible on the company's official website www.ovintiv.com.
Participants can join the call without operator assistance by registering their phone numbers via an automated callback system. Alternatively, attendees can call directly at 888-664-6383 for North America or 416-764-8650 for international callers, 15 minutes before the event. The live audio webcast will also be available on Ovintiv's site and archived for approximately 90 days.
Ovintiv has announced a significant $4.275 billion acquisition of assets from Black Swan Oil & Gas and others, expanding its Permian Basin inventory by 65,000 net acres and adding 1,050 well locations. The deal, valued at 2.8 times next twelve months Adjusted EBITDA, promises a 19% cash flow yield. It is projected to enhance cash returns per share by over 25% in the next year and 40% in 2024. In conjunction, Ovintiv plans to divest its Bakken assets for approximately $825 million. The acquisition is expected to be immediately accretive to key financial metrics and will support the company's investment-grade balance sheet with a leverage ratio targeting 1.0 times.
Ovintiv Inc. (NYSE: OVV) reported strong financial results for 2022, with net earnings of $3.6 billion and Non-GAAP Free Cash Flow of $2.3 billion after $1.8 billion in capital expenditures. The company reduced long-term debt by approximately $1.2 billion, improving its Non-GAAP Debt to Adjusted EBITDA ratio from 1.5 to 0.8. Shareholder returns totaled roughly $958 million, including a 25% increase in quarterly dividends to $1.00 per share. For 2023, Ovintiv plans capital investments of $2.15 to $2.35 billion, expecting total production of 500 to 525 MBOE/d.
Ovintiv Inc. (NYSE: OVV) announced its 2022 fourth quarter and year-end results conference call scheduled for 9:00 a.m. MT on February 28, 2023. The financial results will be released after the market closes on February 27, 2023. Supplemental slides and financial statements will also be available on Ovintiv's website at www.ovintiv.com.
Participants can join via an automated callback by registering at this link, or dial in directly at 888-664-6383 (toll-free in North America) or 416-764-8650 (international).
Ovintiv reported a robust third-quarter performance with net earnings of $1.19 billion and Non-GAAP Free Cash Flow of $437 million. The company increased its production guidance by 5,000 MBOE/d to between 505-515 MBOE/d and repurchased $387 million in shares. Year-to-date, net debt was reduced by $991 million. The Board declared a quarterly dividend of $0.25 per share, payable on December 30, 2022. These results reflect Ovintiv's commitment to capital discipline and shareholder returns.
Ovintiv Inc. (NYSE: OVV) announced its 2022 third quarter results conference call scheduled for 8:00 a.m. MT on November 9, 2022. The financial results will be released after market close on November 8, 2022. Supplemental slides and financial statements will be accessible on their website.
To join the call, dial 888-664-6383 (North America) or 416-764-8650 (international) 15 minutes prior. The event will be available via live audio webcast and archived for 90 days on the Ovintiv website.
Ovintiv Inc. (NYSE: OVV) has received TSX approval to renew its normal course issuer bid (NCIB), allowing the purchase of up to 24.8 million shares, representing 10% of its public float. This program aligns with Ovintiv's strategy to enhance shareholder value by increasing cash returns and focusing on financial strength. Following a decision in July 2022, the company has boosted cash returns to 50% of the previous quarter's Non-GAAP Free Cash Flow. The NCIB is set to commence on October 3, 2022, and will run for 12 months.