Ovintiv Inc. [OVV] Stock trading around $39.37 per share: What’s Next?


Ovintiv Inc. [NYSE: OVV] gained 3.25% or 1.24 points to close at $39.37 with a heavy trading volume of 3610924 shares. The company report on November 2, 2021 that Ovintiv Reports Third Quarter 2021 Financial and Operating Results.

Strong Third Quarter Free Cash Flow to Enhance Shareholder Returns Through Fourth Quarter Share Buyback Program .

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It opened the trading session at $38.79, the shares rose to $39.58 and dropped to $37.69, the range by which the price of stock traded the whole day. The daily chart for OVV points out that the company has recorded 38.29% gains over the past six months. However, it is still -153.84% lower than its most recent low trading price.

If we look at the average trading volume of 2.89M shares, OVV reached to a volume of 3610924 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $48.33 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 2.10. 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.

Seaport Global Securities have made an estimate for Ovintiv Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 23, 2021. While these analysts kept the previous recommendation, Cowen dropped their target price from $40 to $39. The new note on the price target was released on August 24, 2021, representing the official price target for Ovintiv Inc. stock. Previously, the target price had yet another raise to $38, while BofA Securities analysts kept a Buy rating on OVV stock.

The Average True Range (ATR) for Ovintiv Inc. is set at 1.53, with the Price to Sales ratio for OVV stock in the period of the last 12 months amounting to 1.51. The Price to Book ratio for the last quarter was 2.71, with the Price to Cash per share for the same quarter was set at 0.03. Price to Free Cash Flow for OVV in the course of the last twelve months was 6.64 with Quick ratio for the last quarter at 0.40.

Trading performance analysis for OVV stock

Ovintiv Inc. [OVV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.10. With this latest performance, OVV shares gained by 13.65% in over the last four-week period, additionally plugging by 38.29% over the last 6 months – not to mention a rise of 119.45% 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 69.02, with the RSI for the last a single of trading hit 77.90, and the three-weeks RSI is set at 63.37 for Ovintiv Inc. [OVV]. The present Moving Average for the last 50 days of trading for this stock 35.02, while it was recorded at 38.07 for the last single week of trading, and 30.28 for the last 200 days.

Ovintiv Inc. [OVV]: A deeper dive into fundamental analysis

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 0.40 and a Current Ratio set at 0.40.

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An analysis of insider ownership at Ovintiv Inc. [OVV]

There are presently around $7,194 million, or 74.40% of OVV stock, in the hands of institutional investors. The top three institutional holders of OVV stocks are: VANGUARD GROUP INC with ownership of 27,251,860, which is approximately 0.175% of the company’s market cap and around 0.93% of the total institutional ownership; DODGE & COX, holding 22,472,460 shares of the stock with an approximate value of $884.74 million in OVV stocks shares; and BLACKROCK INC., currently with $831.19 million in OVV stock with ownership of nearly -0.205% of the company’s market capitalization.

Positions in Ovintiv Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 198 institutional holders increased their position in Ovintiv Inc. [NYSE:OVV] by around 19,771,047 shares. Additionally, 132 investors decreased positions by around 20,043,378 shares, while 56 investors held positions by with 142,924,992 shares. The mentioned changes placed institutional holdings at 182,739,417 shares, according to the latest SEC report filing. OVV stock had 78 new institutional investments in for a total of 3,496,541 shares, while 28 institutional investors sold positions of 2,979,271 shares during the same period.