Ovintiv Inc. [NYSE: OVV] price surged by 5.68 percent to reach at $0.65. The company report on July 28, 2020 that Ovintiv Reports Second Quarter Financial and Operating Results.
Strong capital efficiency drives lower planned 2020 capital spending, higher expected fourth quarter production.
A sum of 3537957 shares traded at recent session while its average daily volume was at 8.34M shares. Ovintiv Inc. shares reached a high of $12.14 and dropped to a low of $11.51 until finishing in the latest session at $12.10.
The one-year OVV stock forecast points to a potential upside of 22.09. The average equity rating for OVV stock is currently 2.90, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Ovintiv Inc. [OVV]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OVV shares is $15.53 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OVV stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Ovintiv Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 05, 2020. The new note on the price target was released on July 15, 2020, representing the official price target for Ovintiv Inc. stock. Previously, the target price had yet another raise to $13, while BMO Capital Markets analysts kept a Outperform rating on OVV stock.
The Average True Range (ATR) for Ovintiv Inc. is set at 0.60, with the Price to Sales ratio for OVV stock in the period of the last 12 months amounting to 0.38. The Price to Book ratio for the last quarter was 0.31, with the Price to Cash per share for the same quarter was set at 0.32. Price to Free Cash Flow for OVV in the course of the last twelve months was 16.96 with Quick ratio for the last quarter at 1.00.
OVV Stock Performance Analysis:
Ovintiv Inc. [OVV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.22. With this latest performance, OVV shares gained by 22.84% in over the last four-week period, additionally sinking by -26.04% over the last 6 months – not to mention a drop of -43.85% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OVV stock in for the last two-week period is set at 68.39, with the RSI for the last a single of trading hit 73.69, and the three-weeks RSI is set at 63.39 for Ovintiv Inc. [OVV]. The present Moving Average for the last 50 days of trading for this stock 10.09, while it was recorded at 11.25 for the last single week of trading, and 12.76 for the last 200 days.
Insight into Ovintiv Inc. Fundamentals:
Ovintiv Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
OVV Stock EPS
With the latest financial reports released by the company, Ovintiv Inc. posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.68/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OVV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ovintiv Inc. go to -4.67%.
Ovintiv Inc. [OVV] Insider Position Details
There are presently around $1,809 million, or 58.50% of OVV stock, in the hands of institutional investors. The top three institutional holders of OVV stocks are: DODGE & COX with ownership of 38,017,797, which is approximately 33.69% of the company’s market cap and around 0.10% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 14,437,180 shares of the stock with an approximate value of $174.69 million in OVV stocks shares; and FIL LTD, currently with $125.72 million in OVV stock with ownership of nearly New of the company’s market capitalization.
145 institutional holders increased their position in Ovintiv Inc. [NYSE:OVV] by around 55,015,290 shares. Additionally, 204 investors decreased positions by around 85,608,635 shares, while 36 investors held positions by with 8,911,740 shares. The mentioned changes placed institutional holdings at 149,535,665 shares, according to the latest SEC report filing. OVV stock had 62 new institutional investments in for a total of 17,534,770 shares, while 102 institutional investors sold positions of 7,410,355 shares during the same period.