Natural gas, oil, and NGLs provider Ovintiv (NYSE:OVV) has renewed its stock repurchase program. The move is part of Ovintiv’s broader strategy which includes financial strength, boosting cash returns for investors, achieving higher returns on capital, and achieving ESG progress.
Ovintiv now plans to purchase about 24.85 million shares, which makes up about 10% of its float, by October 2, 2023.
Will Ovintiv Stock Go up?
Despite the market gyrations, OVV stock is still up 27.3% so far this year and Wall Street sees a further 58.6% potential upside in the stock with a Strong Buy consensus rating and an average price target of $70.91.
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