Ovintiv Past Earnings Performance
Past criteria checks 4/6
Ovintiv has been growing earnings at an average annual rate of 18.5%, while the Oil and Gas industry saw earnings growing at 8.4% annually. Revenues have been declining at an average rate of 2.6% per year. Ovintiv's return on equity is 6.7%, and it has net margins of 8.7%.
Key information
18.53%
Earnings growth rate
18.01%
EPS growth rate
| Oil and Gas Industry Growth | 33.67% |
| Revenue growth rate | -2.56% |
| Return on equity | 6.67% |
| Net Margin | 8.70% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 27
OVV: Stable Production Mix And Margins Will Support Higher Earnings Multiple
Analysts have nudged their price target on Ovintiv up by $1 to $82, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that slightly reshape their outlook on the stock without radically changing it. What's in the News Ovintiv reported first quarter 2026 oil production of 141.8 Mbbls/d and NGLs Plant Condensate production of 83.5 Mbbls/d, with total liquids at 324.9 Mbbls/d and natural gas at 2,124 MMcf/d, for total production of 678.9 MBOE/d (Announcement of operating results).Seeking Alpha • May 16
Ovintiv: Better Choices Are Elsewhere
Summary Ovintiv remains a sell due to persistent underperformance versus peers. OVV’s history of acquisitions and asset sales has not translated into superior profitability. OVV has strategic execution issues that have led to profit 'leakage' and lagging investor returns. Peer comparisons over a decade highlight that investors can find better risk-adjusted returns elsewhere. The OVV balance sheet is strong and finances remain in good shape. Read the full article on Seeking AlphaNarrative Update • May 04
OVV: Production Outlook And Margins Will Support Higher Earnings Multiple
Analysts have lifted their fair value estimate for Ovintiv's stock from $80.00 to $81.00 as they update their models to reflect revised assumptions for revenue growth, profit margins, and future P/E levels. What's in the News Ovintiv reported that from October 1, 2025 to December 31, 2025, it repurchased 0 shares for $0 million under its existing buyback program, with the total completed under this authorization also at 0 shares for $0 million (Key Developments).
Narrative Update • Apr 19
OVV: Higher Projected Production And P/E Multiple Will Drive Bullish Outlook
Analysts have raised their price target on Ovintiv from about $60 to about $69, citing updated assumptions around revenue growth, profit margins, and future P/E that result in a higher fair value estimate. What's in the News Ovintiv updated its share buyback activity for the period from October 1, 2025 to December 31, 2025, reporting that it repurchased 0 shares, or 0%, for a total of $0m under the buyback announced on September 29, 2025 (Key Developments).Narrative Update • Apr 05
OVV: Future Production Guidance Will Support Higher Earnings Multiple
Analysts have raised their price target on Ovintiv from about $66 to $80, pointing to revised assumptions around discount rates, revenue growth, profit margins, and future P/E as key drivers of the updated view. What's in the News Ovintiv reported no share repurchases from October 1, 2025 to December 31, 2025, with 0 shares bought for $0 million under the existing buyback program announced on September 29, 2025 (Key Developments).Narrative Update • Mar 21
OVV: Future Production Mix And P/E Expectations Will Shape Balanced Outlook
Analysts have adjusted their price target for Ovintiv to $60.45 from $57.00, reflecting updates to fair value assumptions, revenue expectations, profit margin outlook and future P/E estimates. What's in the News Ovintiv reported that between October 1, 2025 and December 31, 2025, it repurchased 0 shares for $0 million, completing the previously announced buyback program with no additional activity in that period (Key Developments).Narrative Update • Mar 07
OVV: Updated Outlook Will Balance Production Guidance With Fair Value Assumptions
Analysts have raised the price target for Ovintiv to $57, up from $51.82, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Ovintiv reported that from October 1, 2025 to December 31, 2025, it repurchased 0 shares for $0 million under its existing buyback program, bringing total repurchases under the September 29, 2025 authorization to 0 shares for $0 million (Key Developments).
Narrative Update • Feb 21
OVV: Lower Growth Assumptions Will Limit Upside Despite Richer Profit Outlook
Analysts have trimmed their average price target for Ovintiv to about $42.76. They link this move to updated assumptions that pair more modest revenue growth and a slightly lower discount rate with a higher projected profit margin and a marginally reduced forward P/E.Narrative Update • Feb 07
OVV: 2026 Plan And Buybacks Will Support Fairly Balanced Return Potential
Analysts now see Ovintiv's fair value at about $43.09 per share, down slightly from roughly $43.80, reflecting updated views on discount rates, revenue growth, profit margins and a lower assumed future P/E multiple. Valuation Changes Fair value estimate is now about US$43.09 per share, down slightly from roughly US$43.80.Narrative Update • Jan 24
OVV: 2026 Production Plan And Buybacks Will Support Balanced Return Potential
Analysts have modestly raised their price target on Ovintiv to about US$44 per share from roughly US$43, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E multiples. What’s in the News Completed a buyback tranche covering July 1, 2025 to September 30, 2025, repurchasing 3,770,911 shares, or 1.47% of shares, for US$158 million, bringing total repurchases under the September 26, 2024 program to 7,836,011 shares, or 3.02%, for US$304.02 million (Key Developments).Narrative Update • Jan 08
OVV: Higher 2026 Production Plan And Buybacks Will Support Upside Potential
Analysts have lifted their price target on Ovintiv from US$42.00 to about US$43.00, citing revised assumptions for revenue growth, profit margins and a lower future P/E multiple. What's in the News New fourth quarter 2025 production guidance sets total volumes in a range of 610 MBOE/d to 630 MBOE/d, with Oil & Condensate at 203 Mbbls/d to 209 Mbbls/d, NGLs (C2 to C4) at 95 Mbbls/d to 99 Mbbls/d, and Natural Gas at 1,875 MMcf/d to 1,925 MMcf/d (company guidance).Analysis Article • Jan 06
Is Ovintiv (NYSE:OVV) A Risky Investment?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Nov 11
Investors Can Find Comfort In Ovintiv's (NYSE:OVV) Earnings Quality
The market for Ovintiv Inc.'s ( NYSE:OVV ) shares didn't move much after it posted weak earnings recently. We did some...Analysis Article • Nov 08
Ovintiv's (NYSE:OVV) Dividend Will Be $0.30
Ovintiv Inc. ( NYSE:OVV ) will pay a dividend of $0.30 on the 31st of December. This payment means the dividend yield...Narrative Update • Oct 29
Share Repurchase Plan Will Drive Future Gains Despite Margin Pressure
Analysts have revised their price target for Ovintiv slightly downward from $52.41 to $51.82. This change reflects updated expectations for softer revenue growth and a marginally lower profit margin outlook.Narrative Update • Oct 15
Emerging Markets And LNG Exports Will Shape Future Energy
Ovintiv's analyst price target has been revised downward from $53.62 to $52.41. The adjustment reflects analysts’ updated outlook, taking into account slightly reduced estimates for profit margin and future revenue growth.Analysis Article • Sep 18
Is Ovintiv (NYSE:OVV) Using Too Much Debt?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Narrative Update • Sep 16
Emerging Markets And LNG Exports Will Shape Future Energy
A slight deterioration in consensus revenue growth forecasts for Ovintiv has driven a marginal reduction in the analyst price target from $54.00 to $53.62. What's in the News Ovintiv reported total production of 615.3 MBOE/d for Q2, up from 593.8 MBOE/d a year ago, with increases in total liquids and natural gas production.Analysis Article • Aug 31
Ovintiv (NYSE:OVV) Is Looking To Continue Growing Its Returns On Capital
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a...Analysis Article • Jul 28
Ovintiv (NYSE:OVV) Is Due To Pay A Dividend Of $0.30
Ovintiv Inc.'s ( NYSE:OVV ) investors are due to receive a payment of $0.30 per share on 29th of September. This...Seeking Alpha • Feb 27
Ovintiv: Management Needs To Tighten The Reins
Summary Ovintiv has a poor long-term track record. Guided 2025 production shows relatively no growth compared to the current fiscal year. Cenovus took time to organize, but now has a superior growth record compared to Ovintiv's business performance. The current earnings report indicates a decrease in capital spending compared to the previous fiscal year. The whole situation leaves a subpar shareholders return program for investors. Read the full article on Seeking AlphaSeeking Alpha • Nov 11
Ovintiv: Better Options Available For Investors
Summary Ovintiv Inc. has a history of value destruction and mediocre management decisions. Q3-2024 results showed strong metrics and cash flow, but future guidance appears lackluster. We prefer Devon Energy, Chord Energy, and Veren Inc. over Ovintiv today. We go over how our old trade helped us outperform OVV by a huge margin. Current valuations and option premiums don't justify a new position in Ovintiv; we're letting existing positions expire and seeking better opportunities. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Ovintiv makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 8,865 | 771 | 404 | 0 |
| 31 Dec 25 | 8,663 | 1,242 | 397 | 0 |
| 30 Sep 25 | 8,794 | 236 | 349 | 0 |
| 30 Jun 25 | 8,952 | 595 | 355 | 0 |
| 31 Mar 25 | 8,931 | 628 | 345 | 0 |
| 31 Dec 24 | 8,943 | 1,125 | 363 | 0 |
| 30 Sep 24 | 9,562 | 2,041 | 346 | 0 |
| 30 Jun 24 | 10,297 | 1,940 | 435 | 0 |
| 31 Mar 24 | 10,456 | 1,936 | 453 | 0 |
| 31 Dec 23 | 10,661 | 2,085 | 318 | 0 |
| 30 Sep 23 | 11,056 | 2,564 | 413 | 0 |
| 30 Jun 23 | 11,786 | 3,344 | 343 | 0 |
| 31 Mar 23 | 13,448 | 4,365 | 330 | 0 |
| 31 Dec 22 | 14,263 | 3,637 | 349 | 0 |
| 30 Sep 22 | 14,092 | 3,686 | 446 | 0 |
| 30 Jun 22 | 13,169 | 2,428 | 436 | 0 |
| 31 Mar 22 | 11,628 | 866 | 462 | 0 |
| 31 Dec 21 | 10,468 | 1,416 | 362 | 0 |
| 30 Sep 21 | 9,030 | -582 | 436 | 0 |
| 30 Jun 21 | 7,636 | -2,031 | 414 | 0 |
| 31 Mar 21 | 6,186 | -6,209 | 406 | 0 |
| 31 Dec 20 | 5,509 | -6,097 | 234 | 0 |
| 30 Sep 20 | 5,741 | -5,489 | 342 | 0 |
| 30 Jun 20 | 6,186 | -3,819 | 349 | 0 |
| 31 Mar 20 | 7,011 | 900 | 327 | 0 |
| 31 Dec 19 | 7,013 | 234 | 284 | 0 |
| 30 Sep 19 | 6,623 | 1,270 | 160 | 0 |
| 30 Jun 19 | 6,340 | 1,160 | 143 | 0 |
| 31 Mar 19 | 5,769 | 673 | 176 | 0 |
| 31 Dec 18 | 5,457 | 1,069 | 90 | 0 |
| 30 Sep 18 | 5,166 | -190 | 204 | 0 |
| 30 Jun 18 | 4,558 | 65 | 226 | 0 |
| 31 Mar 18 | 4,218 | 547 | 152 | 0 |
| 31 Dec 17 | 3,892 | 827 | 179 | 0 |
| 30 Sep 17 | 3,737 | 775 | 189 | 0 |
| 30 Jun 17 | 3,740 | 798 | 214 | 0 |
| 31 Mar 17 | 3,497 | -134 | 268 | 0 |
| 31 Dec 16 | 3,122 | -944 | 204 | 0 |
| 30 Sep 16 | 2,646 | -1,275 | 251 | 0 |
| 30 Jun 16 | 3,075 | -2,828 | 195 | 0 |
| 31 Mar 16 | 3,211 | -3,837 | 202 | 0 |
| 31 Dec 15 | 3,830 | -5,165 | 214 | 0 |
| 30 Sep 15 | 5,645 | -4,355 | 209 | 0 |
| 30 Jun 15 | 6,618 | -312 | 238 | 0 |
Quality Earnings: OVV has a large one-off loss of $1.7B impacting its last 12 months of financial results to 31st March, 2026.
Growing Profit Margin: OVV's current net profit margins (8.7%) are higher than last year (7%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: OVV has become profitable over the past 5 years, growing earnings by 18.5% per year.
Accelerating Growth: OVV's earnings growth over the past year (22.8%) exceeds its 5-year average (18.5% per year).
Earnings vs Industry: OVV earnings growth over the past year (22.8%) exceeded the Oil and Gas industry 6%.
Return on Equity
High ROE: OVV's Return on Equity (6.7%) is considered low.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/05 06:31 |
| End of Day Share Price | 2026/06/05 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Ovintiv Inc. is covered by 54 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Patrick O'Rourke | ATB Cormark |
| Brent Watson | ATB Cormark Historical (Cormark Securities) |
| Laique Ahmad Amir Arif | ATB Cormark Historical (Cormark Securities) |