OVV

Ovintiv (OVV) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Ovintiv (OVV) just moved to expand its Montney footprint by agreeing to buy Canadian producer Logan Energy in an all-cash deal worth about C$1.26 billion, or roughly US$890 million including net debt.

Ovintiv has delivered a powerful share price run over the past few years, and the latest leg higher has put its earnings firmly under the microscope.

'Ovintiv's core land position in the Montney is expected to increase to approximately 720,000 net acres'.

U.S.-based oil and gas producer Ovintiv (NYSE: OVV) has agreed to acquire Canadian energy company Logan Energy in an all-cash transaction valued at approximately $890 million

Ovintiv (NYSE:OVV) agreed a definitive deal to acquire Logan Energy Corp., expanding its position in the Montney oil play. The transaction adds new Montney acreage and production capacity in one of Ovintiv's core operating areas.

OVV's $890 million Logan Energy proposed acquisition adds 266,000 net acres and 20,000 BOE/d, with projected synergies and stronger cash flow growth.

Ovintiv (OVV) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

The transaction will add 266,000 net acres to Ovintiv’s Montney footprint, including 200,000 core acres of largely undeveloped inventory.

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The deal adds to a busy stretch driven by elevated oil prices and pro-development federal and provincial governments

Ovintiv (OVV) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.