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DENVER, CO – Ovintiv Inc. (NYSE:OVV), an $11 billion market cap player in the crude petroleum and natural gas industry, has announced key dates in preparation for its upcoming annual stockholders’ meeting.
The company, which InvestingPro analysis indicates is currently undervalued, has maintained dividend payments for 52 consecutive years and offers a 2.74% yield. According to a recent filing with the Securities and Exchange Commission, the company has set Tuesday, May 1, 2025, as the date for the meeting.
Stockholders of record as of Monday, March 4, 2025, will be entitled to receive notice of, and to vote at, the annual meeting. The details surrounding the record date and the meeting were included as part of the company’s latest 8-K filing. According to InvestingPro data, 11 analysts have recently revised their earnings upward for the upcoming period, signaling positive expectations for the company’s performance.
In other recent news, Ovintiv Inc. has made significant strides in its strategic transactions and financial performance. The company reported robust Q3 2024 financial results, surpassing estimates with net earnings of $507 million and a cash flow of $978 million. Ovintiv also managed to significantly reduce its debt, demonstrating a disciplined approach to capital investment and acquisitions.
The company’s strategic acquisitions have been positively received by analysts. Ovintiv’s $2.38 billion acquisition of assets from Paramount Resources (OTC:PRMRF), and the planned $2.0 billion sale of its Uinta Basin assets to FourPoint Resources, Quantum (NASDAQ:QMCO) Capital Group, and Kayne Anderson have been seen as strategic moves to streamline its business operations and focus on its core assets.
Analysts at BofA Securities, Scotiabank (TSX:BNS), JPMorgan, and Truist Securities have all updated their outlook on Ovintiv’s shares, with upgrades and increased price targets. The changes in ratings and price targets reflect the positive impact of the company’s recent strategic moves, including the accretive acquisition and the sale of non-core assets.
Ovintiv has also made changes to its board of directors, appointing Terri G. King as an independent member, a move that is expected to contribute to the company’s corporate governance and strategic advice.
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