Sunday, April 11, 2021

Ovintiv Inc. [OVV] is 76.11% higher this YTD. Is it still time to buy?

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Ovintiv Inc. [NYSE: OVV] stock went on an upward path that rose over 4.20% on Friday, amounting to a one-week price decrease of less than -9.65%. The company report on March 16, 2021 that Statement from the Chief Public Health Officer of Canada on March 15, 2021.

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Over the last 12 months, OVV stock rose by 819.64%. The one-year Ovintiv Inc. stock forecast points to a potential downside of -2.22. The average equity rating for OVV stock is currently 2.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.31 billion, with 259.80 million shares outstanding and 257.09 million shares in the current float. Compared to the average trading volume of 3.33M shares, OVV stock reached a trading volume of 7025633 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $24.74 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.

Truist have made an estimate for Ovintiv Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 11, 2021. The new note on the price target was released on December 16, 2020, representing the official price target for Ovintiv Inc. stock. Previously, the target price had yet another raise to $11, while CIBC analysts kept a Sector Underperform rating on OVV stock.

The Average True Range (ATR) for Ovintiv Inc. is set at 1.47, with the Price to Sales ratio for OVV stock in the period of the last 12 months amounting to 1.04. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 0.04. Price to Free Cash Flow for OVV in the course of the last twelve months was 101.72 with Quick ratio for the last quarter at 0.50.

OVV Stock Performance Analysis:

Ovintiv Inc. [OVV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.65. With this latest performance, OVV shares gained by 20.72% in over the last four-week period, additionally plugging by 155.71% over the last 6 months – not to mention a rise of 819.64% 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 54.25, with the RSI for the last a single of trading hit 48.48, and the three-weeks RSI is set at 57.62 for Ovintiv Inc. [OVV]. The present Moving Average for the last 50 days of trading for this stock 21.28, while it was recorded at 26.11 for the last single week of trading, and 13.56 for the last 200 days.

Insight into Ovintiv Inc. Fundamentals:

Ovintiv Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

OVV Stock EPS

With the latest financial reports released by the company, Ovintiv Inc. posted 0.1/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -37.50%. 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 58.44%.

Ovintiv Inc. [OVV] Insider Position Details

There are presently around $4,557 million, or 70.60% of OVV stock, in the hands of institutional investors. The top three institutional holders of OVV stocks are: DODGE & COX with ownership of 32,851,897, which is approximately -9.405% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 24,514,940 shares of the stock with an approximate value of $619.98 million in OVV stocks shares; and BLACKROCK INC., currently with $510.96 million in OVV stock with ownership of nearly 7.322% of the company’s market capitalization.

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123 institutional holders increased their position in Ovintiv Inc. [NYSE:OVV] by around 22,101,290 shares. Additionally, 119 investors decreased positions by around 27,191,475 shares, while 58 investors held positions by with 130,892,889 shares. The mentioned changes placed institutional holdings at 180,185,654 shares, according to the latest SEC report filing. OVV stock had 50 new institutional investments in for a total of 7,441,780 shares, while 37 institutional investors sold positions of 2,026,239 shares during the same period.

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