Our updates keep you on top of your stocks: Ovintiv Inc., TC Energy Inc. and Imperial Oil Ltd.

Article Excerpt

OVINTIV INC., $10.89, is a buy. The energy producer (Toronto symbol OVV; Shares outstanding: 259.9 million; Market cap: $2.9 billion; TSINetwork Rating: Average; Dividend yield: 4.5%) became a U.S. company earlier this year and changed its name from Encana Corp. Ovintiv operates three core properties: Montney (B.C.), Anadarko (Oklahoma) and Permian (Texas). In addition to natural gas, these fields produce large amounts of oil and natural gas liquids. Other properties include Duvernay (Alberta), Williston Basin (North Dakota), Eagle Ford (Texas) and Uinta (Utah). The company and PetroChina Company Ltd. (New York symbol PTR) have now agreed to terminate their 50/50 joint venture formed in 2012 to own and develop Duvernay shale properties in west-central Alberta. The end of the joint venture will not change Ovintiv’s production and proved reserves at Duvernay, which accounted for just 2% of its 2020 second quarter production. However, its termination should make it easier for the company to eventually sell this property. Ovintiv Inc. is a buy. TC ENERGY INC., $55.90, is a..