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OVV

Ovintiv Inc.

OVV

Ovintiv Inc. • NYSE
$40.96 ▲ 1.26% (+0.51)
Market Cap $10.61 B
52w High $46.35
52w Low $29.80
Dividend Yield 1.20%
P/E 44.04
Volume 1.14M
Outstanding Shares 259.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.02B ▼ $725M ▼ $148M ▼ 7.327% ▼ $0.58 ▼ $833M ▼
Q2-2025 $2.318B ▼ $738M ▼ $307M ▲ 13.244% ▲ $1.19 ▲ $1.05B ▲
Q1-2025 $2.377B ▲ $1.432B ▲ $-159M ▼ -6.689% ▼ $-0.61 ▼ $449M ▼
Q4-2024 $2.188B ▼ $1.185B ▲ $-60M ▼ -2.742% ▼ $-0.23 ▼ $550M ▼
Q3-2024 $2.324B $720M $507M 21.816% $1.93 $1.26B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $25M ▲ $19.388B ▼ $9.154B ▼ $10.234B ▼
Q2-2025 $20M ▲ $19.734B ▲ $9.357B ▼ $10.377B ▲
Q1-2025 $8M ▼ $19.614B ▲ $9.534B ▲ $10.08B ▼
Q4-2024 $42M ▲ $19.254B ▼ $8.923B ▼ $10.331B ▼
Q3-2024 $9M $19.859B $9.204B $10.655B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $148M ▼ $818.625M ▼ $-455.478M ▲ $-362.105M ▲ $5M ▼ $269.805M ▼
Q2-2025 $307M ▲ $1.013B ▲ $-558M ▲ $-430M ▼ $12M ▲ $492M ▲
Q1-2025 $-159M ▼ $873M ▼ $-895M ▼ $-12M ▲ $-34M ▼ $256M ▼
Q4-2024 $-60M ▼ $1.02B ▼ $-539M ▼ $-504M ▼ $-17M ▼ $468M ▼
Q3-2024 $507M $1.022B $-516M $-453M $51M $484M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Natural Gas
Natural Gas
 $230.00M ▲$470.00M ▲$380.00M ▼$320.00M ▼
Natural Gas Gathering And Processing
Natural Gas Gathering And Processing
 $0 ▲$0 ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Ovintiv’s earnings profile is clearly cyclical and tied to oil and gas prices. Results swung from deep losses in 2020 to very strong profits in 2021 and especially 2022, then eased back as commodity prices normalized in 2023 and 2024. Revenue and profit levels today are lower than the peak but still meaningfully stronger than the pre‑pandemic period, suggesting the business has structurally improved. Operating profitability and cash earnings remain solid, though trending down from the highs, which points to a company that is still healthy but more in a “mid‑cycle” environment rather than a boom. Overall, the income statement shows a much more resilient and efficient company than a few years ago, but still very exposed to price swings in energy markets.

Balance Sheet

Balance Sheet The balance sheet has strengthened notably over the last five years. Shareholders’ equity has built up steadily, reflecting retained profits and a cleaner capital structure. Total debt, while still meaningful, is well below prior peak levels, indicating real progress on de‑risking. The asset base has grown as well, helped by investments and acquisitions, giving Ovintiv more scale and inventory depth. One watchpoint is that cash on hand is very low, so the company relies heavily on ongoing cash generation and credit access for flexibility. In short, financial leverage appears manageable and trending better, but liquidity is more about strong operations than about a large cash cushion.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been consistently solid and much stronger than in the downturn years, supporting both investment in new wells and returns to shareholders. After funding capital spending, Ovintiv has been able to produce healthy free cash flow in most recent years, which underpins its ability to reduce debt and return capital. Capital expenditures are sizable, reflecting the capital‑intensive nature of shale development, but they appear disciplined rather than excessive. The pattern suggests a business that can largely fund its growth and shareholder payouts from internal cash, as long as commodity prices stay within a reasonable range.

Competitive Edge

Competitive Edge Ovintiv holds a solid competitive position built on a diversified, multi‑basin portfolio and strong technical expertise. Its key assets in the Permian Basin and the Montney formation are among the most attractive and productive plays in North America, giving it access to large, relatively low‑cost resource inventories. The company has a long track record in unconventional drilling and completion techniques, which supports efficient operations and cost control. Portfolio pruning and focus on core areas have sharpened its edge versus more scattered peers. However, Ovintiv still competes in a crowded field of capable shale operators, and its advantage depends on continually executing better on costs, well productivity, and capital allocation than rivals in a volatile price environment.

Innovation and R&D

Innovation and R&D Ovintiv’s “innovation” is primarily operational rather than lab‑style research. It has been an early mover in horizontal and slant drilling, multi‑well pad development, and its 3D Cube Development model, which seeks to develop stacked reservoirs more completely and efficiently. The use of natural gas‑powered fracturing fleets shows a willingness to adopt cleaner, more efficient technologies that can lower both costs and emissions. Data‑driven optimization of drilling and completion is another differentiator. Future innovation is likely to focus on better recovery, lower unit costs, and reduced environmental footprint rather than on entirely new product lines. Successful integration of acquired assets, like the NuVista deal, and continued process innovation will be important to maintain its edge and address growing regulatory and ESG expectations.

Summary

Ovintiv has transitioned from a stressed, loss‑making operator during the 2020 downturn to a more disciplined, cash‑generative energy producer with a stronger balance sheet. Earnings have come off their peak as commodity prices moderated, but profitability and cash flow remain comfortable, and the company has used the upcycle to pay down debt and reinforce its financial position. A focused portfolio in high‑quality basins, combined with operational innovation and cost discipline, underpins its competitive stance. Key opportunities lie in fully exploiting its core plays, integrating recent acquisitions, and continuing to improve efficiency and environmental performance. Key risks remain classic for the sector: sensitivity to oil and gas prices, ongoing high capital needs, limited cash buffers, and regulatory or ESG pressures. Overall, Ovintiv looks like a more robust, better run version of its former self, but still firmly tied to the ups and downs of the energy cycle.

NEWS

November 4, 2025 · 5:05 PM UTC

NuVista Energy Enters Into Agreement to be Acquired by Ovintiv

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November 4, 2025 · 5:03 PM UTC

Ovintiv Reports Third Quarter 2025 Financial and Operating Results

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November 4, 2025 · 5:00 PM UTC

Ovintiv Completes Portfolio Transformation with Agreement to Acquire NuVista Energy Ltd. and Planned Divestiture of Anadarko Assets

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September 29, 2025 · 5:00 PM UTC

Ovintiv Renews Annual Share Buy-Back Program

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