Ovintiv: Shares Are Cheap At 5x EV/EBITDA And 13% FCF Yield

Ovintiv has transformed into a focused Midland and Montney operator, de-risking its story with asset sales and the NuVista acquisition. OVV now offers a compelling 75% free cash flow return policy, combining a 3% dividend yield with significant buybacks, outpacing most peers. Trading at 5.0x EV/EBITDA and a 13% FCF yield, OVV presents over 30% upside to a price target of $80, assuming peer multiples.