ECA.TO - Ovintiv Inc.

Toronto - Toronto Delayed Price. Currency in CAD
4.9600
-0.2300 (-4.43%)
At close: 4:00PM EST
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Previous Close5.1900
Open5.1800
Bid4.9600 x 0
Ask4.9900 x 0
Day's Range4.8600 - 5.1900
52 Week Range4.8600 - 51.7500
Volume16,046,109
Avg. Volume1,690,743
Market Cap1.289B
Beta (5Y Monthly)3.43
PE Ratio (TTM)0.96
EPS (TTM)5.1760
Earnings DateFeb 25, 2020 - Mar 01, 2020
Forward Dividend & Yield0.49 (1.98%)
Ex-Dividend DateDec 11, 2019
1y Target Est13.70
  • PR Newswire

    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

    Ovintiv Inc. (NYSE, TSX: OVV) today announced its fourth quarter and full-year 2019 financial and operating results, which exceeded consensus estimates. The Company also announced its 2020 Outlook with capital investments expected to decrease about $175 million from the prior year on a proforma basis. The outlook is expected to generate the Company's third consecutive year of significant non-GAAP free cash flow and grow crude oil and condensate production by 4%. The 2020 investment program is aligned with Ovintiv's strategy to grow long-term stockholder value through disciplined capital investments, a return of cash to stockholders and profitable liquids growth.

  • Encana (OVV) Gains But Lags Market: What You Should Know
    Zacks

    Encana (OVV) Gains But Lags Market: What You Should Know

    Encana (OVV) closed the most recent trading day at $16.43, moving +0.37% from the previous trading session.

  • Earnings Preview: Encana (OVV) Q4 Earnings Expected to Decline
    Zacks

    Earnings Preview: Encana (OVV) Q4 Earnings Expected to Decline

    Encana (OVV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Sarah Ketterer Drills Deeper Into Oil Company Ovintiv
    GuruFocus.com

    Sarah Ketterer Drills Deeper Into Oil Company Ovintiv

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  • You Have To Love Ovintiv Inc.'s (TSE:OVV) Dividend
    Simply Wall St.

    You Have To Love Ovintiv Inc.'s (TSE:OVV) Dividend

    Is Ovintiv Inc. (TSE:OVV) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can...

  • PR Newswire

    Ovintiv Posts Anadarko Day Materials; Provides First Look at Strong 2019 Operational Results

    Ovintiv Inc. (NYSE, TSX: OVV) released materials associated with its Anadarko Day conference call and webcast, planned for today at 2:30 p.m. MT (4:30 p.m. ET). In addition, initial operating results for 2019 were disclosed with the Company exceeding guidance expectations.

  • Ovintiv Faces First Investor Test After Rebrand From Encana
    Bloomberg

    Ovintiv Faces First Investor Test After Rebrand From Encana

    (Bloomberg) -- The oil and gas producer formerly known as Encana Corp. has completed its corporate overhaul with a new domicile and a new name. It has yet another hurdle to cross.Now based in Denver, Ovintiv Inc. will update investors Wednesday on its progress for the shale oil assets in Oklahoma it amassed after the $5.5 billion acquisition of Newfield Exploration Co. in 2018. The Stack and Scoop fields in the Anadarko Basin have faced investor scrutiny and operational challenges that sent a handful of small explorers into bankruptcy. The company is also set to host a tour of its Stack operations Thursday.Read more with Bloomberg Intelligence’s report on the Anadarko Basin“We think the focus will be on steps the company has taken to reduce well costs and improve returns to make the play more competitive with other resource plays in North America,” said JPMorgan Chase & Co. analyst Arun Jayaram in a report. “The company will likely face stiff headwinds ‘selling’ the play to the market given the sharp pullback in activity by industry.”Before its name change, the Canada-listed shares of Encana had been falling for a decade as it faced a rout in commodity prices and a pipeline bottleneck in Alberta. Its purchase of Newfield didn’t help as it reversed course on a strategy of slimming its oil and gas portfolio.And as Ovintiv started trading with the new symbol OVV in the U.S. on Monday, the shares haven’t done much better -- dropping about 15% this week.Here’s what analysts will be watching for on the one-hour Anadarko Basin webcast which is slated to start at 4:30 p.m. eastern standard time.JPMorgan (Arun Jayaram)Focus will be on well costs and steps Ovintiv has taken to improve returns in the playSees the company providing more of its 2020 program details during 4Q earnings release in FebruaryJayaram has a neutral rating on OvintivPeters & Co. (Harbie Jawanda)Well costs and results are areas of focusWith the company “spudding its first cube style development” in April, Jawanda seeks any additional update with respect to its development plan for this yearRates Ovintiv’s stock as a sector performBMO (Randy Ollenberger)Shares are in the “penalty box,” and performance can improve if Ovintiv can “demonstrate improving profitability in the Anadarko basin.”Ovintiv has “materially lowered D&C costs; however, well productivity has lagged peers”Ollenberger rates the stock as an outperformEight Capital (Phil Skolnick)Doesn’t expect a production and recovery comparison of Ovintiv-drilled and complete wells versus Newfield drilled & completed wellsSays this could have been a potential catalyst for investorsSkolnick rates Ovintiv neutralCowen (Gabe Daoud Jr.)“While one-year cumes appear in line with the company’s type curve, we remain worried over the longer-term trend given what’s seen in the (albeit sometimes funky) OK State data”Daoud Jr. recommends a market perform rating for Ovintiv’s stock(Updates chart and share price move in fifth paragraph.)To contact the reporter on this story: Michael Bellusci in Toronto at mbellusci2@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Divya Balji, Bailey LipschultzFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Rigzone.com

    Ovintiv Faces Investors Post Encana Rebranding

    Before its name change, the Canada-listed shares of EnCana had been falling for a decade.

  • CNW Group

    Encana Completes Reorganization and Establishes Corporate Domicile in the U.S.

    CALGARY , Jan. 24, 2020 /CNW/ - Encana Corporation (NYSE, TSX: ECA) announced today they have completed a previously announced series of reorganization transactions (collectively, the "Reorganization"), resulting in the company: (i) establishing its corporate domicile in the U.S.; (ii) rebranding under the name Ovintiv Inc. ("Ovintiv"); and (iii) completing a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana. The Company received very strong securityholder support with more than 90% of votes cast in favor of the Reorganization.

  • Farewell Encana, Hello Brookfield Property in Canadian Index Rejig
    Bloomberg

    Farewell Encana, Hello Brookfield Property in Canadian Index Rejig

    (Bloomberg) -- The time has come for Canadian index investors to say goodbye to Encana Corp., a stalwart of the nation’s energy sector with roots going back to the late 1800s.On Friday, shares of the oil and gas company will be removed from the S&P/TSX Composite and S&P/TSX 60 indexes after it won investor approval to relocate to the U.S. and rebrand under the name Ovintiv. While Encana will leave a hole on the key stock gauge, Brookfield Property Partners LP will replace it on the large-cap index, according to a statement from S&P Dow Jones Indices.“This could possibly be the largest index event for the Canadian market,” Bryan Chuah, an analyst at Canadian Imperial Bank of Commerce, said in a report. About 195 million Encana shares will need to be sold by Canadian indexers -- valued at about C$1.1. billion ($840 billion), he said, as its new U.S. domicile makes it ineligible for inclusion up north. Encana has about 1.3 billion shares outstanding, according to data compiled by Bloomberg.Encana shares have been in a downward spiral for more than a decade. In 2009, the company spun out its oil-sands assets into Cenovus Energy Inc. in a bid to unlock shareholder value and focus on natural gas. That didn’t work so well, as a glut of North American gas production has weighed on prices ever since.Chief Executive Officer Doug Suttles, who took the reins in 2013, shifted the company away from gas production and into shale oil, especially in Texas’s Permian Basin. Its market value has tumbled about C$63 billion to C$6.7 billion since its 2008 peak.In comes the real estate arm of Brookfield Asset Management Inc.Units of Brookfield Property, a global real estate company, have rallied almost 10% this year to market value of C$25.8 billion. Prior to this addition, the S&P/TSX 60 had zero representation in the real estate sector.Encana announced last year that it will move its head office from Calgary to Denver to allow access to larger pools of investment capital, including U.S. index funds and passively managed accounts.Oil-Sands GloomThe company may be added to the S&P MidCap 400 Index in the U.S., generating demand for 90 million or more of the company’s shares, Randy Ollenberger, an analyst at Bank of Montreal, said in a note last week.Encana’s move south only intensified the gloom enveloping the Canadian energy industry after foreign companies sold more than $30 billion of assets in the past three years amid a lack of pipeline space that has choked off prospects for growth.Encana joins pipeline owner TransCanada Corp., which changed its name to TC Energy Corp. earlier this year, in dropping the link to Canada from its name.Encana traces its history to the 1880s, when the Canadian Pacific Railway Ltd. accidentally discovered natural gas while drilling a water well for workers. The company was eventually spun out from Canadian Pacific and took the name EnCana in 2002.\--With assistance from Aoyon Ashraf.To contact the reporters on this story: Divya Balji in Toronto at dbalji1@bloomberg.net;Kevin Orland in Calgary at korland@bloomberg.netTo contact the editors responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net, Jacqueline Thorpe, David ScanlanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • PR Newswire

    Encana Receives Court Approval of Proposed Plan of Arrangement

    Encana Corporation (NYSE, TSX: ECA) today announced that the Court of Queen's Bench of Alberta has granted a final order approving the previously announced plan of arrangement, which forms part of a series of proposed reorganization transactions (collectively, the "Reorganization"), in order for the company to: (i) establish its corporate domicile in the U.S.; (ii) rebrand under the name Ovintiv Inc. ("Ovintiv"); and (iii) complete a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana.

  • CNW Group

    S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite and S&P/TSX 60 Indices

    S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite and S&P/TSX 60 Indices

  • CNW Group

    Encana Provides Details on its Upcoming Anadarko Basin Conference Call and Webcast

    Encana Provides Details on its Upcoming Anadarko Basin Conference Call and Webcast

  • Reuters

    Canada's Encana gets shareholders' approval to move base to United States

    The company said 90% of the shareholders voted in favor of the company moving its domicile to the United States and rebranding to Ovintiv Inc. Investor Letko, Brosseau & Associates Inc, which owns about 4% stake in Encana, had said in November it will vote against the company's proposed exit from Canada, saying the move would cause significant losses for Canadian shareholders.

  • CNW Group

    Encana Receives Securityholder Approval for Reorganization

    CALGARY , Jan. 14, 2020 /CNW/ - Encana Corporation (NYSE, TSX: ECA) today announced that its securityholders voted in support of the reorganization resolution, in order to: (i) establish the company's corporate domicile in the U.S.; (ii) rebrand under the name Ovintiv Inc. ("Ovintiv"); and (iii) complete a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana.

  • Rigzone.com

    Encana Investors Approve US Move

    Encana Corp. won investors approval to relocate to the U.S. and change its name to Ovintiv, a plan that has dented morale in Canada's beleaguered energy industry.

  • Hedge Fund Favorites vs. EnCana Corporation (ECA) In 2019
    Insider Monkey

    Hedge Fund Favorites vs. EnCana Corporation (ECA) In 2019

    2018's fourth quarter was a rough one for investors and many hedge funds, which were naturally unable to overcome the big dip in the broad market, as the S&P 500 fell by about 4.8% during 2018 and average hedge fund losing about 1%. The Russell 2000, composed of smaller companies, performed even worse, trailing the […]

  • Sarah Ketterer's Top 5 Holdings as of the 3rd Quarter
    GuruFocus.com

    Sarah Ketterer's Top 5 Holdings as of the 3rd Quarter

    Guru’s largest position is chemical company Linde Continue reading...