Ovintiv Inc. [OVV] Is Currently -4.16 below its 200 Period Moving Avg: What Dose This Mean?

Ovintiv Inc. [NYSE: OVV] traded at a low on 12/07/20, posting a -4.16 loss after which it closed the day’ session at $14.53. The company report on December 1, 2020 that Ruten Japan Christmas Shopping 2020 Top Picks Starts.

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TOKYO, Dec. 1, 2020 /CNW/ — Ruten Japan launched the 2020 Christmas Special Shopping Event (12/01), featuring a wide variety of Japanese limited brand products. From Christmas decorations to various gift boxes, Ruten recommends 60 million Japanese items to their worldwide members from designated 13 countries and regions. Ruten customers still get to enjoy the free international shipping fee if purchasing over US$50 dollars.

Ruten Japan’s CEO, Yun Su indicates that since the launch of Ruten Global, it has attracted few attention from many consumers. From the last Single’s Day Event, Ruten Global successfully caught the eye of Ruten’s first-time shopper, especially those from Hong Kong, Singapore, Canada and New Zealand. Catering to the end-of-the-year Christmas shopping season, Ruten Japan promotes several products from different Japanese brands in order to target different levels of customers. Ruten Global not only is dedicated to providing the best fitted Christmas presents, but also is continuing to promote its free international shopping service for its customers. Ruten’s mission is to provide a more convenient online shopping environment with cheaper and higher quality Japanese products.

The results of the trading session contributed to over 5317585 shares changing hands. Over the past one week, the price volatility of Ovintiv Inc. stands at 6.13% while the volatility over the past one month is 6.48%.

The market cap for OVV stock reached $3.35 billion, with 298.80 million shares outstanding and 256.65 million shares in the current float. Compared to the average trading volume of 4.90M shares, OVV reached a trading volume of 5317585 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $12.31 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.

CIBC have made an estimate for Ovintiv Inc. shares, keeping their opinion on the stock as Sector Underperform, with their previous recommendation back on October 26, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on August 05, 2020, representing the official price target for Ovintiv Inc. stock.

The Average True Range (ATR) for Ovintiv Inc. is set at 0.87, with the Price to Sales ratio for OVV stock in the period of the last 12 months amounting to 0.49. The Price to Book ratio for the last quarter was 0.74, with the Price to Cash per share for the same quarter was set at 0.17.

How has OVV stock performed recently?

Ovintiv Inc. [OVV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.87. With this latest performance, OVV shares gained by 52.79% in over the last four-week period, additionally plugging by 31.61% over the last 6 months – not to mention a drop of -28.25% 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 67.74, with the RSI for the last a single of trading hit 68.27, and the three-weeks RSI is set at 65.99 for Ovintiv Inc. [OVV]. The present Moving Average for the last 50 days of trading for this stock 10.52, while it was recorded at 13.85 for the last single week of trading, and 8.72 for the last 200 days.

Ovintiv Inc. [OVV]: Deeper insight into the fundamentals

Ovintiv Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

Earnings analysis for Ovintiv Inc. [OVV]

With the latest financial reports released by the company, Ovintiv Inc. posted 0.81/share EPS, while the average EPS was predicted by analysts to be reported at 0.75/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.00%. 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 -4.09%.

Insider trade positions for Ovintiv Inc. [OVV]

There are presently around $2,686 million, or 71.90% of OVV stock, in the hands of institutional investors. The top three institutional holders of OVV stocks are: DODGE & COX with ownership of 36,262,297, which is approximately -3.986% of the company’s market cap and around 1.24% of the total institutional ownership; VANGUARD GROUP INC, holding 24,188,267 shares of the stock with an approximate value of $351.46 million in OVV stocks shares; and BLACKROCK INC., currently with $273.54 million in OVV stock with ownership of nearly -3.467% of the company’s market capitalization.

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84 institutional holders increased their position in Ovintiv Inc. [NYSE:OVV] by around 17,426,275 shares. Additionally, 140 investors decreased positions by around 22,565,280 shares, while 65 investors held positions by with 144,861,380 shares. The mentioned changes placed institutional holdings at 184,852,935 shares, according to the latest SEC report filing. OVV stock had 30 new institutional investments in for a total of 6,087,154 shares, while 41 institutional investors sold positions of 1,674,238 shares during the same period.

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