Why Ovintiv (OVV) Surges 59.1% Post Q1 Earnings Release, Peter Dea Named as Ovintiv Board Chairman Replacing Retiring Chair Clayton Woitas, A Rising Share Price Has Us Looking Closely At Ovintiv Inc.'s (TSE:OVV) P/E Ratio, Causeway's Sarah Ketterer Slashes Holdings of Oil Stocks, Buys Bottling Company, News Flash: Analysts Just Made A Notable Upgrade To Their Ovintiv Inc. (TSE:OVV) Forecasts, Ovintiv Reports First Quarter Financial and Operating Results, Ovintiv Announces Results of Annual Meeting, Ovintiv to Host its 2020 First Quarter Results Conference Call on Friday, May 8, 2020.

The firm operates through the following segments: Canadian Operations, USA Operations and Market Optimization. Shares of Ovintiv Inc. OVV have rallied more than 59% since its first-quarter 2020 earnings announcement on May 7. Shares of Ovintiv Inc. OVV have rallied more than 59% since its first-quarter 2020 earnings announcement on May 7. The listed name for OVV is Ovintiv Inc. Sign up for a Robinhood Account to buy or sell Ovintiv stock and options commission-free. Join thousands of traders who make more informed decisions with our premium features. How Do Ovintiv Inc.s (TSE:OVV) Returns On Capital Compare To Peers? Its other upstream assets comprise Eagle Ford in south Texas, Bakken in North Dakota, and Uinta in central Utah; and Duvernay in west central Alberta, Wheatland in southern Alberta, Horn River in northeast British Columbia, and Deep Panuke in offshore Nova Scotia. Its total debt to total capital was 40.7%. 284 109 Q1 2020 EBITDA (£m) Click to get this free report Williams Companies, Inc. The company's capital investments were $790 million, up from $736 million in the year-ago period. Although the bottom line came below the Zacks Consensus Estimate, investors welcomed the company’s cost-reduction efforts. The company was founded in 1881 and is headquartered in Denver, CO. Do the numbers hold clues to what lies ahead for the stock? Natural gas production rose 10.4% year over year to 1,569 million cubic feet per day while liquids production surged 33.9% to 309,800 BOE/d. The company generated non-GAAP cash flow of $535 million compared with the year-ago figure of $422 million. Due to weak commodity prices, the company developed a dynamic shut-in strategy, which is based on variable costs/margins and price factors.

This is evident from its natural gas output in the quarter under review, which contributed to 45.8% of the total production. The Market Optimization segment’s activities are managed by the Midstream, Marketing & Fundamentals team, which is primarily responsible for the sale of the Company’s proprietary production to third party customers. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta. However, total revenues of $2.6 billion surpassed the Zacks Consensus Estimate of $1.6 billion and also increased from the year-ago level of $1.2 billion, attributable to expanded production volumes in the Permian and Anadarko Basins. The company was formerly known as Encana Corporation and changed its name to Ovintiv Inc. in January 2020. These 7 were selected because of their superior potential for immediate breakout. Ovintiv (OVV) delivered earnings and revenue surprises of -4.88% and -43.24%, respectively, for the quarter ended June 2020.

Ovintiv’s first-quarter 2020 operating earnings of 10 cents per share missed the Zacks Consensus Estimate of 18 cents. Recently, the company, formerly known as Encana Corporation, redomiciled in the United States under the new name, Ovintiv Inc. With this transition, shares of the company are now dually traded on Toronto as well as on New York stock exchanges under the ticker symbol OVV. Is the Options Market Predicting a Spike in Ovintiv (OVV) Stock? Ovintiv Inc. is based in Denver, Colorado.

Ovintiv, Inc. produces and develops multi-basin portfolio of oil, natural gas liquids and natural gas producing plays. Production growth from the company’s core assets of Permian and Anadarko enabled it to deliver impressive year-over-year results. The (WMB) : Free Stock Analysis Report, Cheniere Energy, Inc. (LNG) : Free Stock Analysis Report, Murphy USA Inc. (MUSA) : Free Stock Analysis Report, Ovintiv Inc. (OVV) : Free Stock Analysis Report. Moreover, the reported figure was lower than the year-ago bottom line of 70 cents per share. The number of crime incidents recorded in the category Controlled drug offences rose by 3,003 (+15.7%) to 22,166 in the year to Q1 2020 compared with the previous year. In Q1 2020, our products and solutions improved the lives of 1.65 billion people worldwide, up from 1.61 billion a year earlier; our efforts to improve access to care for underserved healthcare communities resulted in 190 million lives improved (Q1 2019: 183 million). The company reduced its capex guidance for the second quarter by 60% to the $250-$300 million range, indicating a decline from its prior guidance. Change the date range, see whether others are buying or selling, read news, get earnings results, and compare Ovintiv against related stocks people have also bought. Real-time quotes, advanced visualizations, backtesting, and much more. Zacks Rank & Performance of Other Energy Players.

Among other players in the, The Zacks Analyst Blog Highlights: United Parcel, Westinghouse, Werner and Schneider National, How He Made $2.8M Trading Stocks Part-Time At Home, Mattel, PLCE, Gilead, Vertex and Horizon as Zacks Bull and Bear of the Day, Century Casinos (CNTY) to Report Q3 Results: Wall Street Expects Earnings Growth. Moreover, realized oil price came down to $48.99 per barrel from $57.34 in the first quarter of 2019. You can buy or sell Ovintiv and other stocks, options, and ETFs commission-free! Onto Innovation (ONTO) Earnings Expected to Grow: Should You Buy? Ovintiv's realized natural gas price was $1.97 per thousand cubic feet compared with the year-ago level of $2.66. The (WMB) : Free Stock Analysis Report Cheniere Energy, Inc. (LNG) : Free Stock Analysis Report Murphy USA Inc. (MUSA) : Free Stock Analysis Report Ovintiv Inc. (OVV) : Free Stock Analysis Report To read this article on Zacks.com click here. However, the company successfully repositioned its asset base and shifted to the more profitable crude over a couple of years. CNW Group-10.34%. Q1 2020 plan of ~£(10)m EBITDA pre-COVID to prepare for strong 2Q, 3Q and 4Q Incremental negative performance driven by COVID-19 impact and operating leverage of the business Cost rationalisation measures taken have been implemented in April (run-rate capex and opex impact of up to £185m p.a.) Ovintiv’s cash from operating activities in the quarter under review summed $566 million, up from the year-ago figure of $529 million. Further, the upstream company expects well costs in its core assets to be 20% lower for the remainder of this year and next compared to the 2019 average. While Cheniere Energy and Williams Companies carry a Zacks Rank #2 (Buy), Murphy sports a Zacks Rank #1 (Strong Buy). The Canadian Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within Canada. Ovintiv opts for dropping two-third of its operated rig fleet this month and plans to operate seven rigs (three Permian, two Anadarko, two Montney) and no frac spreads. Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year. You can see the complete list of today’s Zacks #1 Rank stocks here. May-27-20 05:05PM : Peter Dea Named as Ovintiv Board Chairman Replacing Retiring Chair Clayton Woitas. ... Reduces Second Quarter 2020 Capital Investments by $300 Million; Full-Year Cash Costs to Drop by $100 Million. Shares of Ovintiv Inc. OVV have rallied more than 59% since its first-quarter 2020 earnings announcement on May 7. The number of crime incidents in the category Sexual offences fell by … A few years ago, natural gas accounted for around 95% of Ovintiv’s output. Quarterly statement Q1 2020 January – March Page 1/9 Focus on health and safety of employees in the COVID-19 pandemic Henkel reports robust Q1 sales performance in very challenging market conditions Group sales impacted by COVID-19 pandemic: nominal -0.8%, organic -0.9% Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2020 third quarter results conference call at 9 a.m. MT on Thursday, October 29, 2020. Ovintiv Inc., together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. This underperformance can be attributed to soft commodity price realizations. 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Ovintiv Restructures Crude Oil Derivatives to Provide Additional Downside Protection; Company Now Plans to Reduce Second Quarter 2020 Investments by $500 Million, Ovintiv Takes Immediate and Significant Action; Reduces Second Quarter 2020 Capital Investments by $300 Million; Full-Year Cash Costs to Drop by $100 Million, Ovintiv Reiterates Strong Capital Structure, Significant Liquidity and Operational Flexibility, Trade Alert: Thomas Ricks At Ovintiv Inc. (TSE:OVV), Has Just Spent US$325k Buying Shares, A new name in Denver oil expects more growth after big 2019, Ovintiv Issues 2020 Outlook; Company Expects to Deliver Cash from Operations Significantly in Excess of Capital for the Third Consecutive Year; Fourth Quarter 2019 Results Top Consensus Estimates, Sarah Ketterer Drills Deeper Into Oil Company Ovintiv, You Have To Love Ovintiv Inc.'s (TSE:OVV) Dividend, Ovintiv to Host its 2019 Fourth Quarter and Year-End Results Conference Call and Webcast on Thursday, February 20, 2020, Ovintiv Posts Anadarko Day Materials; Provides First Look at Strong 2019 Operational Results. CNW Group. Total expenses increased to $1.88 billion from the year-ago figure of $1.46 billion. Ovintiv’s total costs were $12.17 per barrels of oil equivalent in the quarter, down 9.4% from the year-earlier quarter.

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