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Ovintiv (OVV) Names a New Member Among its Board of Directors
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Ovintiv Inc. (OVV - Free Report) recently appointed Katherine L. Minyard, the investment principal at Denver-based Cambiar Investors, as an independent member of its board of directors, who will take charge immediately.
Prior to Cambiar, Minyard, 45, served as the executive director in JPMorgan Chase & Co.'s (JPM - Free Report) Equity Research Team that comprised integrated oil, refining, Canadian oil and U.S. E&P companies.
Ovintiv’s independent board chair Peter Dea is delighted to welcome Kate on its board and is eagerly anticipating a significant traction from her knowledge and perceptions. This appointment marks the fourth addition to the company’s board of directors since the beginning of 2019, based on its ongoing, multi-year refreshment process. He further added, “Ovintiv's directors have a diversity of skills, expertise and perspectives, and together we are committed to helping the company build on its strong momentum”.
Pertaining to this new appointment of Minyard, Ovintiv, formerly known as Encana, signed an agreement with Kimmeridge Energy Management Company, LLC wherein the latter decided to take back its previously-presented director nominations and vote its shares in support of Ovintiv's directors.
Further, Kimmeridge managing partner and head of public equities states that “We believe the appointment of Kate and recent actions Ovintiv has taken, including establishing a multi-year debt reduction target and introducing greater alignment into their executive compensation program, position the company to create long-term value for shareholders".
Also, recently, Ovintiv reported fourth-quarter 2020 adjusted earnings per share of 70 cents, beating the Zacks Consensus Estimate of 63 cents. The better-than-anticipated bottom line can be attributed to the company’s successful cost-control initiatives. In fact, it achieved a record low well cost in each of its Core 3 assets during the period.
Company Profile
Ovintiv engages in exploration, development, production and marketing of natural gas, oil and natural gas liquids. The company holds principal assets in Anadarko Basin, located in Western and Central Oklahoma, the Permian Basin located in Western Texas and South Eastern New Mexico, Midland Basin in Texas and the Montney Basin in Western Canada.
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Ovintiv (OVV) Names a New Member Among its Board of Directors
Ovintiv Inc. (OVV - Free Report) recently appointed Katherine L. Minyard, the investment principal at Denver-based Cambiar Investors, as an independent member of its board of directors, who will take charge immediately.
Prior to Cambiar, Minyard, 45, served as the executive director in JPMorgan Chase & Co.'s (JPM - Free Report) Equity Research Team that comprised integrated oil, refining, Canadian oil and U.S. E&P companies.
Ovintiv’s independent board chair Peter Dea is delighted to welcome Kate on its board and is eagerly anticipating a significant traction from her knowledge and perceptions. This appointment marks the fourth addition to the company’s board of directors since the beginning of 2019, based on its ongoing, multi-year refreshment process. He further added, “Ovintiv's directors have a diversity of skills, expertise and perspectives, and together we are committed to helping the company build on its strong momentum”.
Pertaining to this new appointment of Minyard, Ovintiv, formerly known as Encana, signed an agreement with Kimmeridge Energy Management Company, LLC wherein the latter decided to take back its previously-presented director nominations and vote its shares in support of Ovintiv's directors.
Further, Kimmeridge managing partner and head of public equities states that “We believe the appointment of Kate and recent actions Ovintiv has taken, including establishing a multi-year debt reduction target and introducing greater alignment into their executive compensation program, position the company to create long-term value for shareholders".
Also, recently, Ovintiv reported fourth-quarter 2020 adjusted earnings per share of 70 cents, beating the Zacks Consensus Estimate of 63 cents. The better-than-anticipated bottom line can be attributed to the company’s successful cost-control initiatives. In fact, it achieved a record low well cost in each of its Core 3 assets during the period.
Company Profile
Ovintiv engages in exploration, development, production and marketing of natural gas, oil and natural gas liquids. The company holds principal assets in Anadarko Basin, located in Western and Central Oklahoma, the Permian Basin located in Western Texas and South Eastern New Mexico, Midland Basin in Texas and the Montney Basin in Western Canada.
Zacks Rank & Key Picks
Ovintiv currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy space are Matador Resources Company (MTDR - Free Report) and Denbury Inc. , each presently flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>