Is Ovintiv, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Ovintiv, Inc. has moved from attractive to very expensive, indicating a shift towards overvaluation. The company appears to be overvalued based on its P/E ratio of 6, which is significantly lower than the industry average, and an EV to EBITDA ratio of 3.62, also below the peer average. In comparison, Antero Resources Corp. has a P/E ratio of 17.26 and an EV to EBITDA of 8.49, highlighting the disparity in valuation metrics.
Additionally, Ovintiv's return performance has been underwhelming, with a year-to-date return of -11.19% compared to the S&P 500's 13.30%, and a three-year return of -28.59% versus the S&P 500's impressive 81.19%. This further reinforces the notion that Ovintiv is overvalued in the current market context.