These producers rise along with energy prices

Article Excerpt

Oil prices have almost doubled over the last year to today’s price of roughly $73 U.S. a barrel. Natural gas prices are up as well. Increased industrial activity is driving those gains as the world recovers from the pandemic. Still, energy prices will likely remain subject to wide and unpredictable swings—spurred by continually changing supply and demand, environmental pressures, and the shift to electric vehicles. Nonetheless, the near-term outlook for oil and gas prices remains bright, and that’s a big plus for producers like Ovintiv and Imperial Oil. OVINTIV INC., $36.92, is a buy. The energy producer (Toronto symbol OVV; Shares outstanding: 261.0 million; Market cap: $9.8 billion; TSINetwork Rating: Average; Dividend yield: 1.3%) 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. Thanks to improving oil and gas prices, revenue in the quarter ended March 31, 2021, jumped 43.1%, to $2.25 billion from…

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