Ovintiv Inc. (OVV) has released an update.
Ovintiv Inc. has reported robust financial results for the first quarter of 2024, with net earnings of $338 million and high production volumes leading to a significant free cash flow of $444 million after investments. The company has outperformed its production guidance and is returning substantial value to shareholders, with $328 million distributed through dividends and share buybacks. Additionally, Ovintiv has raised its full-year production outlook while maintaining its capital expenditure forecast.
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