Ovintiv Inc. (NYSE:OVV) finished Wednesday with a subtraction of -$0.66 to close at $46.98, a downside of -1.39 percent. An average of 1,903,260 shares of common stock have been traded in the last five days. There was a fall of -$0.38 in the past week, and it reached a new high 7 times over the past 12 months. The last 20 days have seen an average of 2,775,925 shares traded, while the 50-day average volume stands at 3,928,538.
OVV stock has increased by 10.36% in the last month. The company shares reached their 1-month lowest point of $41.76 on 07/26/23. With the stock rallying to its 52-week high on 01/27/23, shares of the company touched a low of $32.07 and a high of $59.10 in 52 weeks. It has reached a new high 5 times so far this year and lost -7.36% or -$3.73 in price. In spite of this, the price is down -20.51% from the 52-week high.
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Insider Transactions
OVV stock investors should be aware that Ovintiv Inc. (OVV) stock had its last reported insider trading activity 21 days ago on Aug 03. In this transaction, the insider spent $58,429. EVP, Midstream, Mrktg & Fndmtl, Zemljak Renee Ellen, disposed of 70,424 shares at a price of $46.40 on Mar 03. The insider now owns more than $3,267,674 worth of shares. Prior to that, Director Mayson Howard John went on to Sale 3,000 shares at $45.62 each on Mar 02. An amount of $136,860 was transacted.
Valuation Metrics
Ovintiv Inc. (OVV) has a trailing price-to-earnings (P/E) ratio of 3.55. The stock’s beta is 2.79. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.08, the price-to-book (PB) ratio at 1.26, and the price-to-cash flow ratio at 7.91.
The company has a payout ratio of 7.80%. The company’s most recent quarterly dividend payment was $0.30 a share, without any change from last year. Its latest increase dividend $0.05 reported on Sunday April 2 2023.
Financial Health
The quick ratio of Ovintiv Inc. for the recent quarter was 0.40, and the current ratio was 0.40, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.59 and a total debt to equity ratio of 0.66 for the recent quarter. Ovintiv Inc.’s EBITDA margin is 29.19%, while its operating margin for the same period stands at 31.70%. Its gross profit as reported stood at $5.41 billion compared to revenue of $12.46 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Ovintiv Inc.’s return on assets was 20.90%.
Earnings Surprise
For the recent quarter, Ovintiv Inc. had $5.45 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $336.0 million in the quarter, while revenues were shrunk -303.87%. Shareholders own equity worth $273.86 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Ovintiv Inc. (OVV) price momentum. RSI 9-day as of the close on 23 August was 49.32%, suggesting the stock is Neutral, with historical volatility in this time frame at 15.48%.
As of today, OVV’s price is $47.82 -0.80% or -$0.38 from its 5-day moving average. OVV is currently trading +9.00% higher than its 20-day SMA and +33.50% higher than its 100-day SMA. However, the stock’s current price level is +24.91% above the SMA50 and -8.15% below the SMA200.
The stochastic %K and %D were 35.34% and 51.01%, respectively, and the average true range (ATR) was 1.28. With the 14-day stochastic at 11.84% and the average true range at 1.31, the RSI (14) stands at 57.96%. The stock has reached -0.24 on the 9-day MACD Oscillator while the 14-day reading was at -0.46.
Analyst Ratings
The consensus rating for Ovintiv Inc. (OVV) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell OVV, while 11 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 13 others rate it as a “buy”.
What is OVV’s price target for the next 12 months?
Analysts predict a range of price targets between $38.00 and $69.00, with a median target of $54.00. Taking a look at these predictions, the average price target given by analysts for Ovintiv Inc. (OVV) stock is $54.26.
