Tudor, Pickering, Holt on Tuesday reiterated its buy rating on the shares of Ovintiv (OVV.TO, OVV) with a US$52.00 price target as it previewed fourth-quarter results from the oil and gas producer.

"We're anticipating a straightforward and neutral Q4'25 update following what was a more eventful Q3'25 release which included the NVA acquisition. We're in-line across the board for Q4'25, TPHe 208mbopd crude and condensate vs. Street 208, TPHe 627mboepd total vs. Street 622, TPHe $854MM CFO pre-WC vs. Street $858MM, and TPHe $489MM capex vs. Street $474MM. On the NVA transaction, all signs point to an imminent close, with the NVA shareholder vote on 1/23/26, which could result in a similar deal close timeline that we saw with the POU transaction last year (end of Jan, with plenty of wiggle room to the end-of-Q1 timeframe from the initial announcement). Street's already there as well, with our Q1'26 222mbopd crude and condensate comparable to Street 220, with our model reflecting an end-of-Jan close," analyst Jeoffrey Lambujon wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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