The stock price of Ovintiv Inc (NYSE: OVV) has surged by 0.39 when compared to previous closing price of 51.90, but the company has seen a 2.26% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-11 that Following a careful analysis of the Zacks Oil and Gas – Exploration and Production – Canadian industry, we advise focusing on companies like CNQ, OVV and BTE.
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 6.61x, Company’s 36-month beta value is 2.67.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for OVV is 252.93M, and currently, short sellers hold a 1.88% ratio of that floaft. The average trading volume of OVV on April 02, 2024 was 3.21M shares.
OVV’s Market Performance
The stock of Ovintiv Inc (OVV) has seen a 2.26% increase in the past week, with a 5.44% rise in the past month, and a 17.66% gain in the past quarter. The volatility ratio for the week is 1.36%, and the volatility levels for the past 30 days are at 1.77% for OVV. The simple moving average for the past 20 days is 2.92% for OVV’s stock, with a 15.98% simple moving average for the past 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 “Overweight.” The predicted price for OVV in the upcoming period, according to JP Morgan is $58 based on the research report published on December 06, 2023 of the previous year 2023.
Citigroup, on the other hand, stated in their research note that they expect to see OVV reach a price target of $52, previously predicting the price at $48. The rating they have provided for OVV stocks is “Buy” according to the report published on November 22nd, 2023.
Morgan Stanley gave a rating of “Equal-Weight” to OVV, setting the target price at $44 in the report published on July 18th of the previous year.
OVV Trading at 12.61% 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 able to rebound, for now settling with 0.02% of gains for the given period.
Volatility was left at 1.77%, however, over the last 30 days, the volatility rate increased by 1.36%, as shares surge +3.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +29.28% upper at present.
During the last 5 trading sessions, OVV rose by +2.26%, which changed the moving average for the period of 200-days by +36.42% in comparison to the 20-day moving average, which settled at $50.71. In addition, Ovintiv Inc saw 18.62% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OVV starting from Zemljak Renee Ellen, who sale 76,264 shares at the price of $50.96 back on Mar 14 ’24. After this action, Zemljak Renee Ellen now owns 23,672 shares of Ovintiv Inc, valued at $3,886,413 using the latest closing price.
Moore Rachel Maureen, the EVP, Corporate Services of Ovintiv Inc, sale 9,300 shares at $50.65 during a trade that took place back on Mar 01 ’24, which means that Moore Rachel Maureen is holding 52,557 shares at $471,045 based on the most recent closing price.
Stock Fundamentals for OVV
Current profitability levels for the company are sitting at:
- 0.24 for the present operating margin
- 0.47 for the gross margin
The net margin for Ovintiv Inc stands at 0.2. The total capital return value is set at 0.15. Equity return is now at value 23.09, with 11.90 for asset returns.
Based on Ovintiv Inc (OVV), the company’s capital structure generated 0.36 points at debt to capital in total, while cash flow to debt ratio is standing at 0.71. The debt to equity ratio resting at 0.56. The interest coverage ratio of the stock is 7.12.
Currently, EBITDA for the company is 4.65 billion with net debt to EBITDA at 1.53. When we switch over and look at the enterprise to sales, we see a ratio of 1.96. The receivables turnover for the company is 7.84for trailing twelve months and the total asset turnover is 0.53. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.60.
Conclusion
In a nutshell, Ovintiv Inc (OVV) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
