Ovintiv Inc (NYSE: OVV)’s stock price has decreased by -2.18 compared to its previous closing price of 53.74. However, the company has seen a -5.02% decrease in its stock price over the last five trading sessions. PRNewsWire reported 2024-04-08 that DENVER, April 8, 2024 /PRNewswire/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its first quarter 2024 results conference call at 9:00 a.m. MT, on Wednesday May 8, 2024.
Is It Worth Investing in Ovintiv Inc (NYSE: OVV) Right Now?
Ovintiv Inc (NYSE: OVV) has a price-to-earnings ratio that is above its average at 6.67x. The stock has a 36-month beta value of 2.67. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for OVV is 252.90M, and at present, short sellers hold a 1.99% of that float. On April 16, 2024, the average trading volume of OVV was 3.17M shares.
OVV’s Market Performance
The stock of Ovintiv Inc (OVV) has seen a -5.02% decrease in the past week, with a 3.34% rise in the past month, and a 26.43% gain in the past quarter. The volatility ratio for the week is 2.90%, and the volatility levels for the past 30 days are at 1.94% for OVV. The simple moving average for the past 20 days is -0.41% for OVV’s stock, with a 14.76% simple moving average for the past 200 days.
Analysts’ Opinion of OVV
Many brokerage firms have already submitted their reports for OVV stocks, with Barclays repeating the rating for OVV by listing it as a “Overweight.” The predicted price for OVV in the upcoming period, according to Barclays is $69 based on the research report published on April 10, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see OVV reach a price target of $58, previously predicting the price at $61. The rating they have provided for OVV stocks is “Overweight” according to the report published on December 06th, 2023.
Citigroup gave a rating of “Buy” to OVV, setting the target price at $52 in the report published on November 22nd of the previous year.
OVV Trading at 7.92% 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 -6.04% of loss for the given period.
Volatility was left at 1.94%, however, over the last 30 days, the volatility rate increased by 2.90%, as shares surge +4.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.84% upper at present.
During the last 5 trading sessions, OVV fell by -5.02%, which changed the moving average for the period of 200-days by +44.70% in comparison to the 20-day moving average, which settled at $52.89. In addition, Ovintiv Inc saw 19.69% 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 1.98. 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
To sum up, Ovintiv Inc (OVV) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
