Ovintiv Inc. (OVV): What Technical Indicators Show

Ovintiv Inc. (NYSE:OVV) saw a downside of -0.94% to close Monday at $38.05 after subtracting -$0.36 on the day. The 5-day average trading volume is 4,111,040 shares of the company’s common stock. It has gained $39.70 in the past week. An average of 3,782,540 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,080,026.

OVV’s 1-month performance is 34.26% or $9.71 on its low of $27.52 reached on 09/21/21. The company’s shares have touched a 52-week low of $7.93 and high of $38.86, with the stock’s rally to the 52-week high happening on 10/11/21. YTD, OVV has achieved 164.97% or $23.69. However, the current price is down -2.08%% from the 52-week high price.


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Valuation Metrics

Ovintiv Inc. (OVV) has a trailing price-to-earnings (P/E) ratio of 18.90 for the broader industry and 19.63 for the sector. The company’s PE ratio for the last five years has touched a high of 236.83 and a low of 0.787. OVV stock has a beta of 3.74. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.55 while the price-to-book (PB) in the most recent quarter is 2.52, with the price to cash flow ratio at 7.66.

Ovintiv Inc. pays an annual dividend of $0.56 per share. Its dividend yield is 1.47%. OVV’s most recent quarterly dividend payment was made on Sep. 30, when it paid $0.14 a share compared with prior rate of $0.0938, up 33.0% from last year’s. The company has boosted its dividend for the last 2 consecutive years with the latest dividend increase of $0.0463 reported on Thursday July 29 2021.

It is projected that Ovintiv Inc.’s next ex-dividend date will be on 13-Dec-2021. OVV is expected to distribute $0.14 as its next dividend.

Ovintiv Inc.’s quick ratio for the period ended June 29 was 0.40, with the current ratio over the same period at 0.40 meaning that OVV stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.23, while the total debt to equity was 1.46. In terms of profitability, the gross margin trailing 12 months is 55.00%. The trailing 12-month EBITDA margin is 29.19% while for the period ending June 29; Ovintiv Inc.’s operating margin was -32.40%. The firm’s gross profit as reported stood at $2.44 billion against revenue of $6.09 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected OVV to announce $1.14 per share in earnings in its latest quarter, but it posted $1.11, representing a -2.60% surprise. EBITDA for the quarter stood at more than $190.0 million. OVV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 9.83 billion, with total debt at $6.36 billion. Shareholders hold equity totaling $261.08 million

Technical Picture

Let’s look briefly at Ovintiv Inc. (OVV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 80.30% to suggest the stock is trending Overbought, with historical volatility in this time period at 37.18%.

The stock’s 5-day moving average is $37.15, reflecting a +8.59% or $3.01 change from its current price. OVV is currently trading +27.39% above its 20-day SMA, +50.69% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +48.29% and +157.62% respectively.

Stochastic %K and %D was 93.50% and 94.32% and the average true range (ATR) pointed at 1.57. The RSI (14) points at 76.86%, while the 14-day stochastic is at 84.96% with the period’s ATR at 1.49. The stock’s 9-day MACD Oscillator is pointing at 2.39 and 3.85 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Ovintiv Inc. (NYSE: OVV), Seaport Global Securities launched coverage with a Buy rating. Analysts offering their rating for OVV stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate OVV as a “sell,”, while 7 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 20 have offered a “buy” rating.

What is OVV’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $25.00 and a high of $54.00, with their median price target at $42.00. Looking at these predictions, the average price target given by analysts is for Ovintiv Inc. (OVV) stock is $41.63.

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