Ovintiv Inc. (OVV) Update - Mar 29
Posted: Tue Mar 29, 2022 2:52 pm
TipRanks: "On 3/23/2022 Capital One analyst Phillips Johnston upgraded Ovintiv to Overweight from Equalweight with a price target of $82, up from $61."
At the time of this post OVV was trading at $53.31.
My updated valuation is $76.00 per share. < I am only using a multiple of 4.5 X annualized operating cash flow per share. If OVV actuals confirm my forecast as we move thru the year, a higher valuation model will be justified since OVV is on-track to generate over $3 Billion of free cash flow from operations this year.
At the time of this post OVV was trading at $53.31.
My updated valuation is $76.00 per share. < I am only using a multiple of 4.5 X annualized operating cash flow per share. If OVV actuals confirm my forecast as we move thru the year, a higher valuation model will be justified since OVV is on-track to generate over $3 Billion of free cash flow from operations this year.