In the past week, OVV stock has gone down by -2.06%, with a monthly decline of -5.17% and a quarterly surge of 27.39%. The volatility ratio for the week is 2.39%, and the volatility levels for the last 30 days are 2.37% for Ovintiv Inc The simple moving average for the past 20 days is -0.89% for OVV’s stock, with a 11.93% simple moving average for the past 200 days.
Is It Worth Investing in Ovintiv Inc (NYSE: OVV) Right Now?
Ovintiv Inc (NYSE: OVV) has a price-to-earnings ratio of 6.65x that is above its average ratio. Additionally, the 36-month beta value for OVV is 2.63. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for OVV is 252.90M and currently, short sellers hold a 2.01% ratio of that float. The average trading volume of OVV on May 07, 2024 was 3.14M shares.
OVV) stock’s latest price update
Ovintiv Inc (NYSE: OVV) has seen a rise in its stock price by 1.69 in relation to its previous close of 51.54. However, the company has experienced a -2.06% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-05-06 that Ovintiv (OVV) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
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 1.82% 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 -6.33% of loss for the given period.
Volatility was left at 2.37%, however, over the last 30 days, the volatility rate increased by 2.39%, as shares sank -5.31% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.01% upper at present.
During the last 5 trading sessions, OVV fell by -2.06%, which changed the moving average for the period of 200-days by +24.70% in comparison to the 20-day moving average, which settled at $52.73. In addition, Ovintiv Inc saw 19.33% 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 1.97. 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 conclusion, Ovintiv Inc (OVV) has seen mixed 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 is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
