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Ovintiv (TSX:OVV) Reports Limited Results From Fourth Quarter & FY 2020

1 min read | January 04, 2021 04:01 PM GMT | By Team Kalkine Media
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  • Energy firm Ovintiv Inc has reduced total long-term debt by $257 million in the fourth quarter of 2020. The company aims to reduce the total debt by $1 billion between second half of 2020 and 2021-end and is already nearly halfway to achieving the target.
  • Ovintiv 2020 production stood at over 540 Thousand Barrels of Oil Equivalent per day (MBOE/d). In fourth quarter alone, its total production was over 550 MBOE/d, including its oil and condensate produce of over 210 thousand barrels per day.
  • Ovintiv’s investments in 2020 were to the tune of ~$1.75 billion. In 2021, the energy company aims to invest nearly $1.5 billion towards producing 200 Mbbls/d annual oil and condensate.
  • The company complete financial and operating results and 2021 guidance will be released after market close on February 17, 2021.
  • OVV stock is currently trading at C$ 19.10 per unit. Its return on equity and return on assets stood at 15.86 per cent and 7.11 per cent, respectively, as per TMX data. The P/CF ratio is 1.9.
  • The company’s current market cap is $ 4.96 billion. It distributed quarterly dividend of $ 0.094 and currently yields 2.72 per cent.

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