9 Best Energy Stocks With Huge Upside Potential

6. Ovintiv Inc. (NYSE:OVV)

Analyst Upside: 29.92%

Number of Hedge Fund Holders: 52

Ovintiv Inc. (NYSE:OVV) ranks among the best energy stocks with huge upside potential. William Blair started tracking Ovintiv Inc. (NYSE:OVV) on November 26 with an Outperform rating and a $50 price target. The firm highlighted the company’s recent acquisition of NuVista as a positive driver, pointing out that it “accretively adds core liquids inventory with potential for incremental synergies.”

The acquisition will add around 930 net well placements, each equivalent to 10,000 feet, and approximately 140,000 net acres, with roughly 70% of that area remaining untapped. Ovintiv Inc. (NYSE:OVV) expects the additional assets to produce 100,000 barrels of oil equivalent per day on average in 2026, which includes 25,000 barrels of oil and condensate.

William Blair stated that the Montney addition strengthens Ovintiv’s strong Permian position, as both locations have significant infrastructure.

William Blair expects profitable operations at these two main ventures, along with a potential substantial asset sale, to deliver significant shareholder value through dividends and stock buybacks.

Ovintiv Inc. (NYSE:OVV) is a Denver-based energy company specializing in natural gas, oil, and natural gas liquids across the United States and Canada.