Ovintiv Inc. (NYSE: OVV) has a price-to-earnings ratio of 2.47x that is above its average ratio. Additionally, the 36-month beta value for OVV is 2.84. There are mixed opinions on the stock, with 15 analysts rating it as a “buy,” 3 rating it as “overweight,” 8 rating it as “hold,” and 0 rating it as “sell.”
The average price predicted by analysts for OVV is $60.92, which is $27.33 above the current price. The public float for OVV is 243.52M and currently, short sellers hold a 2.21% ratio of that float. The average trading volume of OVV on March 17, 2023 was 3.29M shares.
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OVV) stock’s latest price update
Ovintiv Inc. (NYSE: OVV)’s stock price has increased by 5.25 compared to its previous closing price of 33.35. but the company has seen a -13.38% decline in its stock price over the last five trading sessions. Barron’s reported on 06/03/22 that 5 Stocks for $150 Oil
OVV’s Market Performance
Ovintiv Inc. (OVV) has seen a -13.38% fall in stock performance for the week, with a -27.99% decline in the past month and a -31.05% plunge in the past quarter. The volatility ratio for the week is 7.22%, and the volatility levels for the past 30 days are at 5.13% for OVV. The simple moving average for the last 20 days is -18.05% for OVV stock, with a simple moving average of -29.01% for the last 200 days.
Analysts’ Opinion of OVV
Many brokerage firms have already submitted their reports for OVV stocks, with JP Morgan repeating the rating for OVV by listing it as a “Neutral.” The predicted price for OVV in the upcoming period, according to JP Morgan is $53 based on the research report published on March 14th of the current year 2023.
BMO Capital Markets, on the other hand, stated in their research note that they expect to see OVV reach a price target of $51, previously predicting the price at $56. The rating they have provided for OVV stocks is “Market Perform” according to the report published on March 07th, 2023.
Wells Fargo gave a rating of “Overweight” to OVV, setting the target price at $71 in the report published on January 25th of the current year.
OVV Trading at -24.24% from the 50-Day Moving Average
After a stumble in the market that brought OVV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -44.55% of loss for the given period.
Volatility was left at 5.13%, however, over the last 30 days, the volatility rate increased by 7.22%, as shares sank -26.04% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -25.32% lower at present.
During the last 5 trading sessions, OVV fell by -13.38%, which changed the moving average for the period of 200-days by -37.81% in comparison to the 20-day moving average, which settled at $42.21. In addition, Ovintiv Inc. saw -30.78% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OVV starting from Zemljak Renee Ellen, who sale 70,424 shares at the price of $46.40 back on Mar 03. After this action, Zemljak Renee Ellen now owns 0 shares of Ovintiv Inc., valued at $3,267,674 using the latest closing price.
Mayson Howard John, the Director of Ovintiv Inc., sale 3,000 shares at $45.62 during a trade that took place back on Mar 02, which means that Mayson Howard John is holding 21,403 shares at $136,860 based on the most recent closing price.
Stock Fundamentals for OVV
Current profitability levels for the company are sitting at:
- -4.19 for the present operating margin
- +4.37 for the gross margin
The net margin for Ovintiv Inc. stands at -109.27. The total capital return value is set at -1.56, while invested capital returns managed to touch -41.78. Equity return is now at value 58.80, with 24.60 for asset returns.
Based on Ovintiv Inc. (OVV), the company’s capital structure generated 208.81 points at debt to equity in total, while total debt to capital is 67.62. Total debt to assets is 55.37, with long-term debt to equity ratio resting at 191.40. Finally, the long-term debt to capital ratio is 61.98.
When we switch over and look at the enterprise to sales, we see a ratio of 2.10, with the company’s debt to enterprise value settled at 0.68. The receivables turnover for the company is 4.32 and the total asset turnover is 0.31. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.51.
Conclusion
In conclusion, Ovintiv Inc. (OVV) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
