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Montney Expansion and NuVista Energy Acquisition to Support Ovintiv (OVV) Future Growth; Citi Remains Bullish

Ovintiv Inc. (NYSE:OVV) is one of the 12 best commodity stocks to buy right now.

On November 18, 2025, The Fly reported that Ovintiv Inc. (NYSE:OVV) saw Citi reduce its price target from $54 to $52, while reiterating a “Buy” rating.

Previously, on November 6, 2025, Evercore ISI increased its price target on Ovintiv Inc. (NYSE:OVV) from $43 to $47, while maintaining an “Outperform” rating. The price revision reflects the company’s Q3 results, which exceeded analyst expectations. Moreover, the investment firm cited the company’s strategic Montney expansion as a key catalyst fueling its future growth. Furthermore, its acquisition of NuVista Energy in early November is expected to enhance its cash flow and streamline the portfolio, the firm noted.

Meanwhile, Ovintiv Inc. (NYSE:OVV) reported its Q3 results on November 5, 2025. The quarter marked a generation of $351 million in free cash flow and production at the high end of guidance. The consistency shown in the cash flow generation comes despite the over $10 per barrel drop in WTI oil prices since the first quarter of 2024. The company’s confidence was bolstered during the quarter, leading to a 10,000 BOE/day increase in full-year production guidance and $50 million reduction in capital investment.

Furthermore, the company’s acquisition of NuVista, announced on November 4, is expected to add approximately 100,000 BOE/day in 2026 and 930 net 10,000-foot equivalent wells. Additionally, the company’s efforts to reduce target debt to $4 billion remain on track, thanks to the Anadarko divestiture. The company recorded $267 million in adjusted earnings, alongside non-GAAP free cash flow of $351 million after capital expenditures of $544 million.

With total Montney production expected to average about 400,000 BOE per day, including 85,000 barrels per day of oil and condensate and 1.75 Bcf per day of natural gas, Ovintiv Inc. (NYSE:OVV) appears well-positioned for strong future growth.

Ovintiv Inc. (NYSE:OVV), an exploration and production company, focuses on oil and gas operations in the Permian Basin and Montney shale.

While we acknowledge the potential of OVV to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than OVV and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Small-Cap Biotech Stocks to Buy According to Analysts and 11 Best AI Infrastructure Stocks to Buy Right Now.

Disclosure: None.

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