Ovintiv Inc. (NYSE:OVV) saw an upside of 0.66% to $49.05 after adding $0.32 on Wednesday. The 5-day average trading volume is 2,608,997 shares of the company’s common stock. It has gained $49.81 in the past week and touched a new high 2 times within the past 5 days. An average of 3,172,794 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,311,817.
OVV’s 1-month performance is 23.02% or $11.38 on its low of $37.18 reached on 07/10/23. The company’s shares have touched a 52-week low of $32.07 and high of $59.10, with the stock’s rally to the 52-week high happening on 01/27/23. YTD, OVV has lost -3.27% or -$1.40 and has reached a new high 5 times. However, the current price is down -17.01% from the 52-week high price.
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Insider Transactions
OVV stock investors last saw insider trading activity on Aug 03.NANCE STEVEN W (Director) most recently sold 1,201 shares at $48.65 per share on Aug 03. This transaction cost the insider $58,429. EVP, Midstream, Mrktg & Fndmtl, Zemljak Renee Ellen, sold 70,424 shares at a price of $46.40 on Mar 03. Then, on Mar 02, Director Mayson Howard John sold 3,000 shares at a price of $45.62 per share. This transaction amounted to $136,860.
Valuation Metrics
OVV stock has a beta of 2.82. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.15 while the price-to-book (PB) in the most recent quarter is 1.31, with the price to cash flow ratio at 10.03.
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. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.59, while the total debt to equity was 0.66. In terms of profitability, the gross margin trailing 12 months is 62.40%. The trailing 12-month EBITDA margin is 29.19% while for the period ending June 29, Ovintiv Inc.’s operating margin was 31.70%. The firm’s gross profit as reported stood at $5.41 billion against revenue of $12.46 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. Net income shrunk -303.87% to $336.0 million, while revenue of $487.0 million was -44.94% off the previous quarter. Analysts expected OVV to announce $0.82 per share in earnings in its latest quarter, but it posted $0.93, representing a 13.40% surprise. EBITDA for the quarter stood at more than $950.0 million. OVV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 10.2 billion, with total debt at $7.09 billion. Shareholders hold equity totaling $273.86 million.
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 08 August was 85.85% to suggest the stock is trending Overbought, with historical volatility in this time period at 24.61%.
The stock’s 5-day moving average is $48.57, reflecting a +5.68% or $2.65 change from its current price. OVV is currently trading +26.02% above its 20-day SMA, +40.48% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +43.18% and SMA200 by-1.67%.
Stochastic %K and %D was 95.54% and 94.15% and the average true range (ATR) pointed at 1.45. The RSI (14) points at 81.02%, while the 14-day stochastic is at 93.98% with the period’s ATR at 1.44. The stock’s 9-day MACD Oscillator is pointing at 1.37 and 3.12 on the 14-day charts.
Analyst Ratings
Analysts offering their rating for OVV stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate OVV as a “sell,”, while 11 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 13 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 $38.00 and a high of $64.00, with their median price target at $51.00. Looking at these predictions, the average price target given by analysts is for Ovintiv Inc. (OVV) stock is $52.17.
