Ovintiv Inc. (NYSE: OVV) has seen a decline in its stock price by -0.13 in relation to its previous close of 47.32. However, the company has experienced a 3.53% gain in its stock price over the last five trading sessions. InvestorPlace reported 2023-09-04 that Now might be a great time to look for the best oil stocks to buy. Expectations of rising Brent crude oil prices for the remainder of 2023 continuing into 2024 are making the search for oil stocks to buy worthwhile again.
Is It Worth Investing in Ovintiv Inc. (NYSE: OVV) Right Now?
The price-to-earnings ratio for Ovintiv Inc. (NYSE: OVV) is above average at 3.57x. The 36-month beta value for OVV is also noteworthy at 2.82. There are mixed opinions on the stock, with 12 analysts rating it as a “buy,” 2 rating it as “overweight,” 11 rating it as “hold,” and 0 rating it as “sell.”
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The average price estimated by analysts for OVV is $55.20, which is $8.58 above than the current price. The public float for OVV is 240.84M, and at present, short sellers hold a 5.14% of that float. The average trading volume of OVV on September 19, 2023 was 3.89M shares.
OVV’s Market Performance
OVV stock saw a decrease of 3.53% in the past week, with a monthly decline of -1.52% and a quarterly a decrease of 24.70%. The volatility ratio for the week is 2.86%, and the volatility levels for the last 30 days are 2.44% for Ovintiv Inc. (OVV). The simple moving average for the last 20 days is -0.15% for OVV stock, with a simple moving average of 10.76% for the last 200 days.
Analysts’ Opinion of OVV
Many brokerage firms have already submitted their reports for OVV stocks, with Morgan Stanley repeating the rating for OVV by listing it as a “Equal-Weight.” The predicted price for OVV in the upcoming period, according to Morgan Stanley is $44 based on the research report published on July 18, 2023 of the current year 2023.
OVV Trading at 4.04% 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 -20.04% of loss for the given period.
Volatility was left at 2.44%, however, over the last 30 days, the volatility rate increased by 2.86%, as shares sank -2.11% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.60% upper at present.
During the last 5 trading sessions, OVV rose by +3.53%, which changed the moving average for the period of 200-days by -12.84% in comparison to the 20-day moving average, which settled at $47.28. In addition, Ovintiv Inc. saw -6.80% 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 NANCE STEVEN W, who sale 1,201 shares at the price of $48.65 back on Aug 03. After this action, NANCE STEVEN W now owns 20,929 shares of Ovintiv Inc., valued at $58,429 using the latest closing price.
Zemljak Renee Ellen, the EVP, Midstream, Mrktg & Fndmtl of Ovintiv Inc., sale 70,424 shares at $46.40 during a trade that took place back on Mar 03, which means that Zemljak Renee Ellen is holding 0 shares at $3,267,674 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 42.50, with 20.90 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 summary, Ovintiv Inc. (OVV) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others 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.
