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National Bank of Canada Increases Ovintiv's Price Target to US$82 from US$80

BY MT Newswires | ECONOMIC | 11:58 AM EDT

11:58 AM EDT, 05/12/2026 (MT Newswires) -- National Bank of Canada on Monday reiterated its outperform rating on the shares of Ovintiv (OVV) while raising its price target to US$82.00 from US$80.00 after the oil and gas producer reported first-quarter results.

Ovintiv's (OVV) average production of 679,000 barrels of oil equivalent per day (boe/d) in the quarter aligned with the bank's estimate of 670,000 boe/d and the Street forecast of 673,000 boe/d.

The company's cash flow of US$4.62 per share exceeded RBC's estimate of $3.93 per share and the consensus expectation of US$4.24 per share.

The delta to National Bank's estimates was driven by a combination of higher-than-expected volumes and realized prices, partially offset by higher-than-expected operating costs and royalties, the bank said.

Price: 79.99, Change: -0.88, Percent Change: -1.09

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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