Ovintiv's Acquisition of NuVista Approved by Canadian Government
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
NuVista Energy (NUVSF) and Ovintiv (OVV) announced that the Government of Canada has approved the acquisition of NuVista by Ovintiv, through its wholly owned subsidiary Ovintiv Canada, in accordance with the terms of the Investment Canada Act. The transaction previously received clearance under the Competition Act Canada and the Court of King's Bench of Alberta has granted the Final Order in respect of the Transaction. The Transaction was approved by NuVista shareholders on January 23 and is expected to close on or about February 3, subject to the satisfaction or waiver of other customary closing conditions.
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Analyst Views on OVV
Wall Street analysts forecast OVV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OVV is 51.00 USD with a low forecast of 42.00 USD and a high forecast of 56.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
13 Buy
4 Hold
0 Sell
Strong Buy
Current: 42.760
Low
42.00
Averages
51.00
High
56.00
Current: 42.760
Low
42.00
Averages
51.00
High
56.00
About OVV
Ovintiv Inc. is an oil and natural gas exploration and production company that is focused on developing its multi-basin portfolio of assets located in the United States and Canada. Its operations include the marketing of oil, natural gas liquids (NGLs) and natural gas. Its segments include USA operations and Canadian Operations. USA Operations include the exploration for, development of, and production and marketing of oil, NGLs, natural gas and other related activities within the United States. Canadian Operations include the exploration for, development of, and production and marketing of oil, NGLs, natural gas and other related activities within Canada. Its assets include Anadarko Basin, Montney, and Permian Basin. Anadarko is a liquids-rich play located in west-central Oklahoma in Blaine, Canadian, Custer, Dewey, Garvin, Grady, Kingfisher, McClain and Stephens counties. Montney is a condensate and natural gas play located in northwest Alberta and northeast British Columbia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ovintiv Appoints New Board Member
- New Board Member: Ovintiv announced the appointment of Gregory P. Hill as an independent director effective January 30, 2026, whose extensive experience at Hess Corporation is expected to provide strategic guidance to the company.
- Extensive Industry Background: Hill brings over four decades of experience in the energy sector, having held senior leadership roles at Hess, Shell, and Aera Energy, managing significant portfolios across key global markets.
- Contributions to Operational Excellence: During his tenure at Hess, Hill led major portfolio transformations and operational excellence initiatives, driving significant growth in critical regions such as Guyana, the Bakken, and the Gulf of Mexico, showcasing his market expansion capabilities.
- Academic Background and Honors: Hill holds a Bachelor of Science in Mechanical Engineering from the University of Wyoming and received an Honorary Doctorate from the same institution in 2024, reflecting his outstanding achievements in both technical and academic fields.
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Ovintiv Appoints Gregory P. Hill as Independent Board Member
- New Board Member: Ovintiv announced that Gregory P. Hill will join as an independent director effective January 30, 2026, bringing over 40 years of experience in the energy sector, which is expected to provide strategic guidance and technical expertise to the company.
- Extensive Industry Background: Hill previously served as President of Worldwide Exploration & Production at Hess Corporation, where he oversaw significant portfolio transformations and operational excellence, particularly in key growth regions such as Guyana, the Bakken, and the Gulf of Mexico.
- Academic Achievements: Hill holds a Bachelor of Science in Mechanical Engineering (with honors) from the University of Wyoming and received an Honorary Doctorate from the same institution in 2024, showcasing his excellence in both technical and academic fields.
- Chairman's Remarks: Ovintiv Chairman Peter Dea stated that Hill's technical expertise and operational leadership will provide significant insights to the board, aiding the company in enhancing long-term shareholder value.
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