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Ovintiv Inc OVV

Alternate Symbol(s):  T.OVV

Ovintiv Inc. is an oil and natural gas exploration and production company. The Company is focused on the development of its multi-basin portfolio of top tier oil and natural gas assets located in the United States and Canada. Its operations also include the marketing of oil, natural gas liquids (NGLs) and natural gas. Its segments include USA Operations, Canadian Operations, and Market Optimization. USA Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other related activities within the United States. Canadian Operations segment includes the exploration for, development of, and production of oil, NGLs, natural gas and other activities within Canada. Market Optimization segment is primarily responsible for the sale of the Company’s production to third-party customers and enhancing the associated netback price. The segment’s activities also include third-party purchases and sales of product to provide operational flexibility.


NYSE:OVV - Post by User

Comment by autofocus111on Sep 28, 2021 8:16pm
267 Views
Post# 33935023

RE:RE:Here it's the link

RE:RE:Here it's the link
Well that's it. Another buyback is coming, Man these guys love to do buybacks. Even after saying they were open to doing variable dividends they have opted for a buyback. At least this time they're buying well off the highs.

>>>DENVER, Sept. 28, 2021 /PRNewswire/ - Ovintiv (NYSE: OVV) (TSX: OVV) today announced it is progressing its commitment to increase shareholder returns with the receipt of regulatory approvals for a share buy-back program. This action is consistent with the Company's capital allocation framework, which supports the goal of unlocking shareholder value by delivering on Ovintiv's strategic priorities of financial strength, increasing cash returns to shareholders, generating superior returns on capital investment, and driving ESG progress... As previously announced, beginning in the fourth quarter of 2021, and until Ovintiv reaches its $3 billion net debt* target, the company plans to return 25% of the previous quarter's free cash flow after base dividends to its shareholders through share buy-backs and/or variable dividends. Once the Company reaches its net debt target of $3 billion, it plans to increase quarterly shareholder returns to at least 50% of the previous quarter's free cash flow after base dividends.

https://stockhouse.com/news/press-releases/2021/09/28/ovintiv-to-increase-shareholder-returns-through-share-buy-back-program
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