Ovintiv Inc (NYSE: OVV) has a higher price-to-earnings ratio of 4.43x compared to its average ratio. compared to its average ratio and a 36-month beta value of 2.64. Analysts have mixed views on the stock, with 12 analysts rating it as a “buy,” 2 as “overweight,” 11 as “hold,” and 0 as “sell.”

The average price point forecasted by analysts for Ovintiv Inc (OVV) is $57.61, which is $13.1 above the current market price. The public float for OVV is 238.19M, and currently, short sellers hold a 3.11% ratio of that float. The average trading volume of OVV on November 21, 2023 was 2.91M shares.

OVV) stock’s latest price update

The stock of Ovintiv Inc (NYSE: OVV) has decreased by -0.67 when compared to last closing price of 44.90.Despite this, the company has seen a loss of -0.67% in its stock price over the last five trading days. Zacks Investment Research reported 2023-11-14 that Ovintiv (OVV) anticipates capital spending in the $660-$700 million range for the fourth quarter of 2023, and in the band of $2.75-$2.79 billion for the full year.

OVV’s Market Performance

Ovintiv Inc (OVV) has seen a -0.67% fall in stock performance for the week, with a -9.16% decline in the past month and a -5.07% plunge in the past quarter. The volatility ratio for the week is 2.33%, and the volatility levels for the past 30 days are at 2.62% for OVV. The simple moving average for the past 20 days is -4.04% for OVV’s stock, with a 6.18% simple moving average for the past 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 -5.60% 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 -21.93% of loss for the given period.

Volatility was left at 2.62%, however, over the last 30 days, the volatility rate increased by 2.33%, as shares sank -8.63% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.16% lower at present.

During the last 5 trading sessions, OVV fell by -1.18%, which changed the moving average for the period of 200-days by -1.36% in comparison to the 20-day moving average, which settled at $46.27. In addition, Ovintiv Inc saw -12.05% 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 31.85, with 14.96 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

To put it simply, Ovintiv Inc (OVV) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating 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.