The stock of Ovintiv Inc (OVV) has seen a 7.94% increase in the past week, with a -10.68% drop in the past month, and a -13.72% decrease in the past quarter. The volatility ratio for the week is 2.66%, and the volatility levels for the past 30 days are at 2.94% for OVV. The simple moving average for the last 20 days is -4.45% for OVV stock, with a simple moving average of -8.12% for the last 200 days.
Is It Worth Investing in Ovintiv Inc (NYSE: OVV) Right Now?
Ovintiv Inc (NYSE: OVV) has a price-to-earnings ratio of 6.08x that is above its average ratio. Additionally, the 36-month beta value for OVV is 2.66. 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.”
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The public float for OVV is 262.40M and currently, short sellers hold a 1.26% ratio of that float. The average trading volume of OVV on August 13, 2024 was 3.07M shares.
OVV) stock’s latest price update
Ovintiv Inc (NYSE: OVV)’s stock price has plunge by 1.41relation to previous closing price of 42.49. Nevertheless, the company has seen a 7.94% surge in its stock price over the last five trading sessions. seekingalpha.com reported 2024-08-06 that Ovintiv raised its guidance for 2024 and has shown impressive business growth in the last decade. The company’s asset growth, FCF growth, and debt reduction indicate proven expertise in the industry. Recent announcements about reductions in expenses and new well improvement technologies could accelerate FCF growth, making OVV stock appear undervalued.
Analysts’ Opinion of OVV
Many brokerage firms have already submitted their reports for OVV stocks, with Wolfe Research repeating the rating for OVV by listing it as a “Outperform.” The predicted price for OVV in the upcoming period, according to Wolfe Research is $65 based on the research report published on July 18, 2024 of the current year 2024.
Evercore ISI, on the other hand, stated in their research note that they expect to see OVV reach a price target of $60. The rating they have provided for OVV stocks is “Outperform” according to the report published on June 14th, 2024.
Barclays gave a rating of “Overweight” to OVV, setting the target price at $69 in the report published on April 10th of the current year.
OVV Trading at -7.30% 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 -22.98% of loss for the given period.
Volatility was left at 2.94%, however, over the last 30 days, the volatility rate increased by 2.66%, as shares sank -11.86% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -14.37% lower at present.
During the last 5 trading sessions, OVV rose by +7.94%, which changed the moving average for the period of 200-days by -11.26% in comparison to the 20-day moving average, which settled at $44.81. In addition, Ovintiv Inc saw -1.89% 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 Mayson Howard John, who sale 4,000 shares at the price of $51.14 back on May 31 ’24. After this action, Mayson Howard John now owns 45,279 shares of Ovintiv Inc, valued at $204,560 using the latest closing price.
Chhina Sippy, the Director of Ovintiv Inc, purchase 1,600 shares at $49.50 during a trade that took place back on May 14 ’24, which means that Chhina Sippy is holding 1,600 shares at $79,200 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
- 0.37 for the gross margin
The net margin for Ovintiv Inc stands at 0.19. The total capital return value is set at 0.15. Equity return is now at value 19.75, with 9.87 for asset returns.
Based on Ovintiv Inc (OVV), the company’s capital structure generated 0.37 points at debt to capital in total, while cash flow to debt ratio is standing at 0.63. The debt to equity ratio resting at 0.6. The interest coverage ratio of the stock is 8.14.
Currently, EBITDA for the company is 4.65 billion with net debt to EBITDA at 1.5. When we switch over and look at the enterprise to sales, we see a ratio of 1.8. The receivables turnover for the company is 7.99for trailing twelve months and the total asset turnover is 0.51. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.44.
Conclusion
In conclusion, Ovintiv Inc (OVV) has seen bad 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’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.
