Ovintiv Closes NuVista Acquisition, Expands Alberta Montney Position

Ovintiv ( (OVV) ) has issued an update.

On February 3, 2026, Ovintiv Canada ULC, a wholly owned subsidiary of Ovintiv Inc., closed its C$2.7 billion cash-and-stock acquisition of all common shares of Canada’s NuVista Energy Ltd., following a November 4, 2025 arrangement agreement that received support from over 99% of votes cast by NuVista shareholders. NuVista investors could elect cash, Ovintiv shares or a mix, within capped aggregate cash and share amounts, resulting in approximately C$1.57 billion in cash and 30,076,903 Ovintiv shares being issued; Ovintiv funded the cash portion through a two-year term credit facility and its revolving credit line, while also repaying NuVista’s C$219 million credit agreement and redeeming C$166 million of NuVista’s 7.875% senior unsecured notes due 2026, alongside C$72 million in cash settlements for NuVista equity incentives. The transaction immediately expands Ovintiv’s position in the oil‑rich Alberta Montney with about 930 net 10,000‑foot equivalent well locations and 140,000 largely undeveloped net acres adjacent to its existing operations, and management highlighted expected annual cost synergies of roughly $100 million and per‑well savings of about $1 million as it streamlines its portfolio, prepares to divest Anadarko assets, and strengthens its footprint in what it views as two premium North American oil plays; NuVista’s shares are slated for delisting from the Toronto Stock Exchange in the days following closing.

The most recent analyst rating on (OVV) stock is a Buy with a $58.00 price target. To see the full list of analyst forecasts on Ovintiv stock, see the OVV Stock Forecast page.

Spark’s Take on OVV Stock

According to Spark, TipRanks’ AI Analyst, OVV is a Neutral.

The score is driven primarily by mixed financial performance (pressure on revenue and free cash flow despite solid margins and a stable balance sheet). Technicals are supportive with strong trend/momentum, and the earnings call was broadly positive on guidance and the NuVista deal, but valuation is a notable headwind due to a high P/E.

To see Spark’s full report on OVV stock, click here.

More about Ovintiv

Ovintiv Inc. is a North American oil and gas producer listed on the NYSE and TSX, with a portfolio focused on liquids-rich, high-return resource plays including the Permian Basin and Canada’s Montney formation. The company targets scalable, infrastructure-linked acreage positions and emphasizes capital-efficient development, cost control and balance sheet management to enhance shareholder returns.

Average Trading Volume: 3,750,487

Technical Sentiment Signal: Strong Buy

Current Market Cap: $11.01B

See more insights into OVV stock on TipRanks’ Stock Analysis page.