OVV
Ovintiv Inc.
OVV's fundamentals are strong, but it looks expensive: trading at 13x earnings, about twice its usual 6.2x. Analysts expect strong earnings growth, though they disagree widely on how much.
OVV Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Healthy |
OVV's revenue, profitability, cash flow and balance sheet are all currently healthy.
OVV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.5x | $16.92 | -74% |
| Fair | 6.1x | $29.98 | -54% |
| Forward | 7.6x | $64.89 | — |
| Current | 13x | $64.89 | — |
| Expensive | 18x | $86.24 | +33% |
Historical ranges are pointers, not guarantees.
OVV's PE is in its expensive range at 13x. If earnings grow as analysts expect, today's price would be 7.6x next year's earnings, in its fair range.
OVV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for OVV, with profitability improving. However, they disagree widely on these estimates.
OVV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.53 | +74% |
| Q3 2026 | $4.90 | +433% |
| Q2 2026 | $3.48 | +53% |
| Q1 2026 | $3.04 | +29% |
| Q4 2025 | $4.78 | +14% |
| Q3 2025 | $0.92 | -88% |
| Q2 2025 | $2.27 | -68% |
| Q1 2025 | $2.36 | -67% |
| Q4 2024 | $4.21 | -47% |
OVV's earnings per share have fallen from their peak: $4.90 over the past year, against $16.99 in early 2023.
OVV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +26% |
| Q2 2026 | $3B | +30% |
| Q1 2026 | $2.5B | +6.5% |
| Q4 2025 | $2.1B | -1.9% |
| Q3 2025 | $2.1B | -11% |
| Q2 2025 | $2.3B | +1.3% |
| Q1 2025 | $2.4B | +1.1% |
| Q4 2024 | $2.2B | -31% |
OVV's revenue is recovering but still below its 2022 peak: $2.6B last quarter, up 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | +21 points |
| Q2 2026 | 33% | +11 points |
| Q1 2026 | -30% | -26 points |
| Q4 2025 | 20% | +20 points |
| Q3 2025 | 13% | -9.5 points |
| Q2 2025 | 22% | -2.3 points |
| Q1 2025 | -3.7% | -25 points |
| Q4 2024 | 0.1% | -37 points |
OVV's operating margin was 34% last quarter, up 20 points from the same quarter a year ago.
OVV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $507M | +89% |
| Q2 2026 | $1.1B | +115% |
| Q1 2026 | $451M | +76% |
| Q4 2025 | $489M | +4.5% |
| Q3 2025 | $268M | -45% |
| Q2 2025 | $492M | +24% |
| Q1 2025 | $256M | +276% |
| Q4 2024 | $468M | -33% |
OVV generated $2.5B in free cash flow over the past year, up 69% from the year before.
OVV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.3% | -6.5M shares |
| 1 year | +6.7% | +17.3M shares |
| 3 years | -0.3% | -900K shares |
| 5 years | +5.5% | +14.3M shares |
| Available history | +5.4% | +14.2M shares |
OVV has 275M diluted shares, up 6.7% from a year ago, despite $815M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $386M |
| Q2 2026 | $345M |
| Q1 2026 | $84M |
| Q4 2025 | — |
| Q3 2025 | $160M |
| Q2 2025 | $147M |
| Q1 2025 | — |
| Q4 2024 | — |
OVV spent $815M buying back its own shares over the past year, up 165% from the year before.
OVV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.9x | Very low |
| Q2 2026 | 1.0x | Very low |
| Q1 2026 | 2.4x | Moderate |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2025 | 1.7x | Healthy |
| Q1 2025 | 1.7x | Healthy |
| Q4 2024 | 1.4x | Healthy |
OVV's net debt is less than a year of its operating earnings (EBITDA), down from 1.8 years a year ago.
OVV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.2 | Neutral |
| Stochastic | 52.9 | Neutral |
OVV's weekly RSI is 54 (neutral) and its Stochastic is 53 (neutral).
OVV PE vs Energy Sector
| Metric | OVV | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 0.9% above |
| PE % | 72 | 61 | 11 pts above |
OVV is trading at 13x earnings, in line with the Energy sector's median of 13x.
OVV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $65.5 | 0.9% below |
| 20 week MA | $63.0 | 3% above |
| 50 week MA | $55.6 | 17% above |
| 100 week MA | $47.6 | 36% above |
| 200 week MA | $45.9 | 42% above |
OVV's trend is up, with a small recent dip: it's below only its 8-week average, and 42% above its 200-week average.
OVV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.1 | $14.6 | -37% |
| 2021 | $14.6 | $32.5 | +123% |
| 2022 | $32.5 | $52.0 | +60% |
| 2023 | $52.0 | $43.9 | -15% |
| 2024 | $43.9 | $38.7 | -12% |
| 2025 | $38.7 | $38.0 | -1.8% |
| 2026 YTD | $38.0 | $64.9 | +71% |
OVV has finished three years in a row lower, and it's up 71% so far in 2026.