Why These Energy Stocks are Losing This Week

8. Ovintiv Inc. (NYSE:OVV)

Share Price Decline Between Sep. 26 – Oct. 3: 7.07%

Ovintiv Inc. (NYSE:OVV) is a leading North American exploration and production company focused on developing its high-quality, multi-basin portfolio.

Ovintiv Inc. (NYSE:OVV) suffered a setback this week after JP Morgan analyst Arun Jayaram lowered the stock’s price target from $50 to $47, while maintaining an ‘Overweight’ rating on its shares. Additionally, the declining global crude oil prices over the last week also seem to have weighed the stock down.

However, Ovintiv Inc. (NYSE:OVV) continues to reward its shareholders and recently announced that it has received the necessary regulatory approvals for the renewal of its share buy-back program. The company intends to purchase up to 22.29 million common shares over the next year, representing 10% of its public float as of September 26, 2025.