Ovintiv Inc. [OVV] is 73.75% higher this YTD. Is it still time to buy?

Ovintiv Inc. [NYSE: OVV] surged by $0.6 during the normal trading session on Thursday and reaching a high of $26.66 during the day while it closed the day at $24.95. The company report on April 30, 2021 that Ovintiv Announces Results of Annual Meeting.

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Ovintiv Inc. (NYSE: OVV) (TSX: OVV) announced that the following matters, as further described in the Company’s Proxy Statement filed on March 12, 2021 (the “Proxy Statement”), were voted upon at its 2021 Annual Meeting of Shareholders held on April 28, 2021.

1. Election of Directors.

Ovintiv Inc. stock has also gained 13.62% of its value over the past 7 days. However, OVV stock has inclined by 51.40% in the 3 months of the year. Over the past six months meanwhile, it has gained 169.15% and gained 73.75% year-on date.

The market cap for OVV 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 2.94M shares, OVV reached a trading volume of 4176224 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $27.98 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 2.70. 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.

TD Securities have made an estimate for Ovintiv Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 29, 2021. The new note on the price target was released on April 23, 2021, representing the official price target for Ovintiv Inc. stock. Previously, the target price had yet another raise from $32 to $35, while Morgan Stanley kept a Overweight rating on OVV stock. On March 29, 2021, analysts increased their price target for OVV shares from 26.75 to 29.

The Average True Range (ATR) for Ovintiv Inc. is set at 1.22, 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 1.69, 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 101.75 with Quick ratio for the last quarter at 0.50.

OVV stock trade performance evaluation

Ovintiv Inc. [OVV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.62. With this latest performance, OVV shares gained by 3.23% in over the last four-week period, additionally plugging by 169.15% over the last 6 months – not to mention a rise of 356.96% 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 58.46, with the RSI for the last a single of trading hit 64.88, and the three-weeks RSI is set at 56.47 for Ovintiv Inc. [OVV]. The present Moving Average for the last 50 days of trading for this stock 24.36, while it was recorded at 23.51 for the last single week of trading, and 15.50 for the last 200 days.

Ovintiv Inc. [OVV]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Ovintiv Inc. [OVV] shares currently have an operating margin of -4.19 and a Gross Margin at +4.37. Ovintiv Inc.’s Net Margin is presently recorded at -109.27.

Return on Total Capital for OVV is now -1.56, given the latest momentum, and Return on Invested Capital for the company is -41.78. Return on Equity for this stock declined to -88.57, with Return on Assets sitting at -33.91. When it comes to the capital structure of this company, Ovintiv Inc. [OVV] has a Total Debt to Total Equity ratio set at 208.81. Additionally, OVV Total Debt to Total Capital is recorded at 67.62, with Total Debt to Total Assets ending up at 55.37. Long-Term Debt to Equity for the company is recorded at 191.40, with the Long-Term Debt to Total Capital now at 61.98.

Reflecting on the efficiency of the workforce at the company, Ovintiv Inc. [OVV] managed to generate an average of -$3,182,150 per employee. Receivables Turnover for the company is 4.32 with a Total Asset Turnover recorded at a value of 0.31.Ovintiv Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Earnings per share (EPS) analysis for Ovintiv Inc. [OVV] stock

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 51.03%.

Ovintiv Inc. [OVV]: Insider Ownership positions

There are presently around $4,483 million, or 70.20% 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 $611.65 million in OVV stocks shares; and BLACKROCK INC., currently with $504.09 million in OVV stock with ownership of nearly 7.322% of the company’s market capitalization.

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Positions in Ovintiv Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 122 institutional holders increased their position in Ovintiv Inc. [NYSE:OVV] by around 21,331,816 shares. Additionally, 112 investors decreased positions by around 27,348,039 shares, while 62 investors held positions by with 130,998,577 shares. The mentioned changes placed institutional holdings at 179,678,432 shares, according to the latest SEC report filing. OVV stock had 47 new institutional investments in for a total of 6,731,318 shares, while 33 institutional investors sold positions of 1,945,575 shares during the same period.

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