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Ovintiv to sell some assets for $250M; moves up shareholder returns to Q3

Jul. 06, 2022 8:17 AM ETOvintiv Inc. (OVV) Stock, OVV:CA StockBy: Carl Surran, SA News Editor4 Comments

Pumpjack (oil derrick) and refinery power plant in West Texas

dszc/E+ via Getty Images

Ovintiv (NYSE:OVV) said on Wednesday it agreed to sell some assets in the Uinta and Bakken basins for ~$250M, while the company also plans to accelerate the doubling of its cash returns to shareholders.


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Comments (4)

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Effing cha-ching!
Jamm Systems profile picture
... and naturally the stock is down 6% on the news. What an epic energy correction!

I sold a while back, but am right here right now adding back a small position. Will try to average in, because energy technicals can't get any uglier than now. I hope for this to be one of my biggest positions over time.

OVV, DXN, PXD- all very shareholder friendly, I can't see how they won't outperform once oil markets stabilize.
What impact will this have on the dividend?
Listening to shareholders. Excellent!!

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