Overview
U.S. oil and gas producer reported Q1 net loss, driven by $1.2 bln non-cash impairment
Q1 production volumes reached 679 MBOE/d, at the high end of company guidance
Outlook
Ovintiv expects full-year 2026 production of 620–645 MBOE/d
Company sees full-year 2026 capital investment at $2.25–$2.35 bln
Ovintiv reiterates its previously issued full-year 2026 guidance
Result Drivers
NUVISTA ACQUISITION - NuVista acquisition added about 100 MBOE/d of production and expanded inventory, supporting high Q1 volumes
COST DISCIPLINE - Operating and transportation costs were at the low end of guidance, contributing to cash flow generation
Company press release: ID:nPn6R4PZ5a
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$630 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Ovintiv Inc is $68.00, about 15.1% above its May 11 closing price of $59.09
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
