---
title: "Ovintiv, California Resources raised to buy at Citi; Devon Energy tapped as top pick"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287110146.md"
description: "Citi has upgraded Ovintiv (OVV) and California Resources (CRC) to Buy from Neutral, setting price targets of $70 and $78, respectively. Analyst Scott Gruber highlights Ovintiv's improved balance sheet and well productivity, while California Resources is seen as a value opportunity post-earnings. Devon Energy (DVN) is noted as a top pick, benefiting from the Coterra acquisition and offering competitive free cash flow."
datetime: "2026-05-20T19:43:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287110146.md)
  - [en](https://longbridge.com/en/news/287110146.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287110146.md)
---

# Ovintiv, California Resources raised to buy at Citi; Devon Energy tapped as top pick

Ovintiv (OVV) and California Resources (CRC) are raised Wednesday to Buy from Neutral with respective $70 and $78 price targets at Citi, which says the companies are among the relative value plays in the E&P space, partly due to rapidly improving balance sheets. Citi analyst Scott Gruber says Ovintiv's (OVV) acquisition of Montney peer Arc Resource...

### Related Stocks

- [CRC.US](https://longbridge.com/en/quote/CRC.US.md)
- [OVV.US](https://longbridge.com/en/quote/OVV.US.md)
- [DVN.US](https://longbridge.com/en/quote/DVN.US.md)
- [IEO.US](https://longbridge.com/en/quote/IEO.US.md)
- [XOP.US](https://longbridge.com/en/quote/XOP.US.md)
- [IXC.US](https://longbridge.com/en/quote/IXC.US.md)
- [XLE.US](https://longbridge.com/en/quote/XLE.US.md)
- [C.US](https://longbridge.com/en/quote/C.US.md)
- [C-R.US](https://longbridge.com/en/quote/C-R.US.md)

## Related News & Research

- [Research Alert: CFRA Keeps Sell Opinion On Shares Of Ovintiv Inc.](https://longbridge.com/en/news/286726789.md)
- [Jefferies Reaffirms Their Buy Rating on Devon Energy (DVN)](https://longbridge.com/en/news/286728558.md)
- [92,919 Shares in Devon Energy Corporation $DVN Bought by iA Global Asset Management Inc.](https://longbridge.com/en/news/286747228.md)
- [ARS Investment Partners LLC Sells 50,355 Shares of Devon Energy Corporation $DVN](https://longbridge.com/en/news/286664855.md)
- [Ovintiv Showing Benefits of Simplification, Strong Operations, Lower Debt, UBS Says](https://longbridge.com/en/news/286145647.md)