Ovintiv

OVV

Oil & Gas Exploration & Production · Energy

Price

$57.79

+1.34 (+2.37%)

Market Cap

$16.24B

Exchange

New York Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count falling — buybacks

−2.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 266.4M (2021) → 259.7M (2025)

Ovintiv is an oil and natural gas company that drills for and produces energy from underground rock formations. It sells crude oil, natural gas, and natural gas liquids to refiners, utilities, and energy traders across North America. The company is one of the larger independent oil and gas producers in North America, with major operations in the Permian Basin in Texas, the Anadarko Basin in Oklahoma, and the Montney formation in Canada.

Ovintiv makes money by selling the oil and gas it pulls out of the ground, so its revenue rises and falls with commodity prices. It operates primarily in the United States and Canada, generating several billion dollars in annual revenue. The company's main competitive advantage is its large inventory of low-cost drilling locations in proven shale basins, which helps keep production costs manageable. The biggest risk Ovintiv faces is a sustained drop in oil or natural gas prices, which would quickly squeeze profits and limit its ability to invest in new wells.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-285.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.5%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$26M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Ovintiv is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

55.7%

Premium pricing power — 55.7% gross margin

Operating Margin

-29.8%

Losing money on operations — -29.8%

ROCE

-4.2%

Weak — -4.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-2.6%

Shrinking sales (-2.6% YoY)

EPS YoY

+30.4%

Earnings growing fast (30.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

494%

Turns 494% of profit into real cash

FCF Margin

5.0%

Thin free cash flow (5.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.55

Conservative — low debt load (0.55)

Interest Cover

1.16x

Dangerous — barely covers interest (1.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

18.7x

Fair value — P/E 18.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+11.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (18.7 → 6.9)

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Dividends

Dividend Yield

2.08%

Moderate income — 2.08% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+0.0%

Dividend flat

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