Ovintiv Inc (NYSE: OVV) has seen a rise in its stock price by 1.65 in relation to its previous close of 38.13. However, the company has experienced a -0.56% decline in its stock price over the last five trading sessions. zacks.com reported 2024-12-18 that Ovintiv (OVV) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock’s potential for a turnaround in the near term.
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 5.14x. The stock has a 36-month beta value of 2.66. Opinions on the stock are mixed, with 11 analysts rating it as a “buy,” 5 as “overweight,” 5 as “hold,” and 0 as “sell.”
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The public float for OVV is 259.10M, and at present, short sellers hold a 1.58% of that float. On December 26, 2024, the average trading volume of OVV was 3.19M shares.
OVV’s Market Performance
The stock of Ovintiv Inc (OVV) has seen a -0.56% decrease in the past week, with a -17.02% drop in the past month, and a -0.21% fall in the past quarter. The volatility ratio for the week is 2.76%, and the volatility levels for the past 30 days are at 2.63% for OVV. The simple moving average for the last 20 days is -6.34% for OVV stock, with a simple moving average of -14.92% for the last 200 days.
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 -7.00% 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 -30.72% of loss for the given period.
Volatility was left at 2.63%, however, over the last 30 days, the volatility rate increased by 2.76%, as shares sank -15.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.89% lower at present.
During the last 5 trading sessions, OVV fell by -0.56%, which changed the moving average for the period of 200-days by -23.43% in comparison to the 20-day moving average, which settled at $41.38. In addition, Ovintiv Inc saw -11.75% 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.
NANCE STEVEN W, the Director of Ovintiv Inc, sale 12,000 shares at $50.00 during a trade that took place back on May 13 ’24, which means that NANCE STEVEN W is holding 8,929 shares at $600,000 based on the most recent closing price.
Stock Fundamentals for OVV
Current profitability levels for the company are sitting at:
- 0.25 for the present operating margin
- 0.38 for the gross margin
The net margin for Ovintiv Inc stands at 0.21. The total capital return value is set at 0.04. Equity return is now at value 20.20, with 10.27 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 0.68. The debt to equity ratio resting at 0.55. The interest coverage ratio of the stock is 6.11.
Currently, EBITDA for the company is 4.71 billion with net debt to EBITDA at 1.29. When we switch over and look at the enterprise to sales, we see a ratio of 1.71. The receivables turnover for the company is 7.29for trailing twelve months and the total asset turnover is 0.14. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.52.
Conclusion
To sum up, Ovintiv Inc (OVV) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing 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.
