The stock of Ovintiv Inc. (NYSE:OVV) decreased by -$0.53 on Tuesday to finish at $47.49, down -1.10 percent. The last five days have seen an average of 2,239,200 shares of common stock traded. 5 times new highs were reached in the current year, with a fall of -$3.22. The average number of shares traded over the last 20 days was 3,002,065, while the average volume over the last 50 days totaled 4,230,328.
OVV stock appreciated 20.78% since last month. On 07/17/23, the company’s shares reached a one-month low of $37.92. The stock touched a high of $59.10 on 01/27/23, after rallying from a low of $32.07 in 52 weeks. The price of OVV stock has declined by -6.35% or -$3.22 this year, reaching a new high 5 times. Still, the stock price is down -19.65% from the 52-week high.
Insider Transactions
OVV stock investors should be aware that Ovintiv Inc. (OVV) stock had its last reported insider trading activity 13 days ago on Aug 03. On Aug 03, Director NANCE STEVEN W sold 1,201 shares at $48.65 each. This transaction resulted in the insider making $58,429. On Mar 03, Zemljak Renee Ellen sold 70,424 shares at a price of US$46.40. After the transaction, the insider now owns 0 shares. Director Mayson Howard John had earlier sold 3,000 shares on Mar 02 for $45.62 a share. The transaction was completed for $136,860.
Valuation Metrics
Ovintiv Inc. (OVV) has a trailing price-to-earnings (P/E) ratio of 3.59. Beta for the stock is 2.82. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.09, the price-to-book (PB) ratio of 1.27, and the price-to-cash flow ratio of 7.96.
Company paid $0.30 per share in dividends, remained unchanged from $0.30 last year. A $0.05 dividend increase was reported on Sunday April 2 2023.
Financial Health
For the three months ended June 29, Ovintiv Inc.’s quick ratio was 0.40, while its current ratio was 0.40, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.59, and the total debt to equity ratio is 0.66. As far as profitability goes, gross margin for the trailing twelve months is 62.40% percent. Ovintiv Inc.’s EBITDA margin for the year ended June 29 was 29.19%, whereas its operating margin stood at 31.70% for the same period. Based on annual data, it had gross profit of $5.41 billion and revenue of $12.46 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. OVV’s return on assets (ROA) during the last 12 months has been 20.90%. There was a 34.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 42.50%.
Earnings Surprise
According to Ovintiv Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.52 billion, while revenues fell by -48.43% to $2.55 billion. It was predicted that Ovintiv Inc.’s quarterly earnings would be $0.93, but it ended up being $0.82, beating the consensus by 13.40%. EBITDA was $950.0 million for the quarter. At the end of Ovintiv Inc.’s most recent quarter ended June 29, its liabilities totaled 10.2 billion, while its total debt was $7.09 billion. Equity owned by shareholders amounts to $273.86 million.
Technical Picture
Here’s a quick look at Ovintiv Inc.’s (OVV) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 61.27%, suggesting the stock is Neutral, with a 24.53% historical volatility rate.
The stochastic %K and %D were 76.70% and 80.73% respectively, while the average true range (ATR) was 1.33. Based on the 14-day stochastic reading of 67.00%, the RSI (14) reading is 66.03%. On the 9-day MACD Oscillator, the stock is at -0.26, and the 14-day reading is at 0.73.
Analyst Ratings
Analysts have assigned Ovintiv Inc. (OVV) an Overweight rating. OVV is a stock that is recommended for selling by 0 brokerage firms, while 11 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 13 others recommend it as a buy.
What is OVV’s price target for the next 12 months?
The current consensus forecast for the stock is between $38.00 and $65.00, with a median target price of $52.00. In analyzing these forecasts, the average price target given by analysts for Ovintiv Inc. (OVV) is $52.87.
