Last Week, Ovintiv Inc. (OVV) Recorded A Gain Of $50.68

As of Friday close, Ovintiv Inc.’s (NYSE:OVV) stock was up $2.75, moving up 6.49 percent to $45.15. The average number of shares traded per day over the past five days has been 8,477,979 shares. 1 time new highs have been achieved over the past 5 days, with a -$10.47 fall in that time frame. In the last twenty days, the average volume was 5,397,935, while in the previous 50 days, it was 4,820,350.

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Since last month, OVV stock retreated -14.78%. Shares of the company fell to $41.01 on 05/12/22, the lowest level in the past month. A 52-week high of $57.60 was reached on 05/05/22 after having rallying from a 52-week low of $21.92. Since the beginning of this year, OVV’s stock price has risen by 33.98% or $11.45, and marked a new high 22 times. However, the stock has declined by -21.61% since its 52-week high.

Ovintiv Inc. (OVV) last reported insider trading activity 26 days ago on Apr 18. RICKS THOMAS G, the Director of the company, disposed of 10,000 shares for $53.73 on Apr 18. It resulted in a $537,300 divestment by the insider. Mayson Howard John sold 2,200 shares at an average price of $48.09 on Mar 18. The insider now owns 24,404 shares following the transaction. On Aug 05, Director Minyard Katherine Lucas bought 5,130 shares at $25.51 apiece. The transaction was valued at $130,866.

Valuation Metrics

Right now, Ovintiv Inc. (OVV) has a P/E ratio of about 8.52. The stock’s beta is 3.19. Besides these, the trailing price-to-sales (P/S) ratio of 1.34, the price-to-book (PB) ratio of 2.32, and the price-to-cash flow ratio of 7.78 may also be considered.

The latest dividend of $0.25 per share was paid out, which is 25.0% more than last year’s $0.20. On Monday May 9 2022, a $0.05 dividend increase was announced.

Financial Health

In the three months ended September 29, Ovintiv Inc.’s quick ratio stood at 0.60, while its current ratio was 0.60, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.95, and the total debt-to-equity ratio was 0.95. On the profitability front, the trailing twelve-month gross margin is 55.30% percent. In the year ended September 29, EBITDA margin amounted to 29.19%, whereas operating margins totaled 17.50%. Based on annual data, OVV earned $3.17 billion in gross profit and brought in $8.66 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 17.10%. Return on equity (ROE) for the past 12 months was 33.40%.

In Ovintiv Inc.’s quarter-end financial report for September 29, it reported total debt of $4.78 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. OVV’s revenue rose 6.56% to $3.34 billion during the quarter, while net income inched up to $1.97 billion. While analysts expected Ovintiv Inc. to report $1.59 quarterly earnings, the actual figure was $1.5 per share, beating the consensus estimate by -5.70%. During the quarter, the company generated $64.0 million in EBITDA. The liabilities of Ovintiv Inc. were 10.22 billion at the end of its most recent quarter ended September 29, and its total debt was $5.79 billion.

Technical Picture

This quick technical analysis looks at Ovintiv Inc.’s (OVV) price momentum. With a historical volatility rate of 108.71%, the RSI 9-day stood at 38.05% on 13 May.

With respect to its five-day moving average, the current Ovintiv Inc. price is down by -18.82% percent or -$10.47. At present, OVV shares trade -15.10% below its 20-day simple moving average and +45.69% percent above its 100-day simple moving average. However, the stock is currently trading approximately -2.76% below its SMA50 and +73.19% above its SMA200.

Stochastic coefficient K was 13.55% and Stochastic coefficient D was 10.99%, while ATR was 3.79. Given the Stochastic reading of 24.95% for the 14-day period, the RSI (14) reading has been calculated as 40.67%. As of today, the MACD Oscillator reading stands at -5.83, while the 14-day reading stands at -6.33.

Analyst Ratings

CapitalOne upgraded its rating on Ovintiv Inc. (NYSE: OVV) to an Overweight in a note to investors on March 23, 2022. The analysts firm previously had an Equal weight rating on the stock.Ovintiv Inc. (OVV) has been rated Buy by analysts. According to 0 brokerage firms, OVV is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Ovintiv Inc. stock as buy, with 19 recommending it as overweight.

With a median target price of $65.00, the current consensus forecast for the stock is $50.00 – $90.00. Based on these forecasts, analysts predict Ovintiv Inc. (OVV) will achieve an average price target of $67.76.


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