Apr. 14 at 9:09 AM
$OVV Last time to buy below
$60 I think. At some point people will realize the oil prices are not going back to
$70 anytime soon. The market currently bets the Iran situation will quickly resolve, as the buffers are at an all time low. If there is no deal within the next few weeks and/or things escalate further, the oil prices will quickly go to new record highs. Bad for the overall market, bit great for Ovintiv and other oil companies. Even if oil prices drop, OVV is still a great buy at this level, they surely profited past weeks from this situation. But I think people fail to realise that even if the Hormuz blockage now stops, it will take many years before all damage to the rigs is repaired.