Ovintiv: Projecting 2024 FCF At Around $1.8 Billion To $1.9 Billion [Seeking Alpha]
Ovintiv Inc. (DE) (OVV)
Last ovintiv inc. (de) earnings: 2/19 08:54 pm
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Source: Seeking Alpha
It appears to be relatively conservative with its 2024 guidance, calling for a 10% decline in oil and condensate production from 2H 2023 levels. I think there is a good chance Ovintiv will end up around the high-end of its production guidance. However, due to weaker natural gas prices, I have trimmed its estimated value to $50 to $51 per share. Looking for more investing ideas like this one? Get them exclusively at Distressed Value Investing. Learn More » Ovintiv Inc. ( NYSE: OVV finished 2023 strongly with 2H 2023 production around 8% above expectations. It appears to have provided relatively conservative guidance for 2024, with average oil and condensate production expected to decline 10% from 2H 2023 levels at the midpoint of its guidance. This is still 2% to 3% higher than its previous outlook for 2024 oil and condensate production, but it doesn't appear that Ovintiv is factoring in a large carryover into 2024 from its 2H 2023 production momentum. Despite its strong rec
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OVV
News
- Ovintiv Inc. (NYSE: OVV) had its price target raised by analysts at Morgan Stanley from $49.00 to $53.00. They now have an "equal weight" rating on the stock.MarketBeat
- Ovintiv Inc. (NYSE: OVV) had its price target raised by analysts at Jefferies Financial Group Inc. from $59.00 to $69.00. They now have a "buy" rating on the stock.MarketBeat
- Ovintiv Inc. (NYSE: OVV) had its price target raised by analysts at UBS Group AG from $62.00 to $69.00. They now have a "buy" rating on the stock.MarketBeat
- Are Robust Financials Driving The Recent Rally In Ovintiv Inc.'s (NYSE:OVV) Stock? [Yahoo! Finance]Yahoo! Finance
- Ovintiv Inc. (NYSE: OVV) is now covered by analysts at Barclays PLC. They set an "overweight" rating and a $69.00 price target on the stock.MarketBeat
OVV
Earnings
- 2/27/24 - Beat
OVV
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- OVV's page on the SEC website