Ovintiv Inc. [NYSE: OVV] traded at a high on 08/23/22, posting a 4.77 gain after which it closed the day’ session at $52.45. The company report on August 3, 2022 that Ovintiv Reports Second Quarter 2022 Financial and Operating Results.
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Shareholder Returns Doubled, Highest Quarterly Cash Flow in Over a Decade.
The results of the trading session contributed to over 4144208 shares changing hands. Over the past one week, the price volatility of Ovintiv Inc. stands at 4.21% while the volatility over the past one month is 4.93%.
The market cap for OVV stock reached $13.59 billion, with 257.20 million shares outstanding and 254.79 million shares in the current float. Compared to the average trading volume of 4.86M shares, OVV reached a trading volume of 4144208 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 $67.08 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 2.00. 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.
BofA Securities have made an estimate for Ovintiv Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 19, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $56 to $64. The new note on the price target was released on June 28, 2022, representing the official price target for Ovintiv Inc. stock. Previously, the target price had yet another raise from $61 to $82, while CapitalOne kept a Overweight rating on OVV stock. On March 08, 2022, analysts increased their price target for OVV shares from 60 to 73.
The Average True Range (ATR) for Ovintiv Inc. is set at 2.61, with the Price to Sales ratio for OVV stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 2.32, 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 8.27 with Quick ratio for the last quarter at 0.50.
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 8.57. With this latest performance, OVV shares gained by 10.49% in over the last four-week period, additionally plugging by 33.90% over the last 6 months – not to mention a rise of 114.34% 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 61.34, with the RSI for the last a single of trading hit 66.64, and the three-weeks RSI is set at 57.71 for Ovintiv Inc. [OVV]. The present Moving Average for the last 50 days of trading for this stock 46.94, while it was recorded at 50.06 for the last single week of trading, and 44.59 for the last 200 days.
Ovintiv Inc. [OVV]: Deeper insight into the 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 analysis for Ovintiv Inc. [OVV]
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 51.74%.
Insider trade positions for Ovintiv Inc. [OVV]
There are presently around $10,747 million, or 78.60% of OVV stock, in the hands of institutional investors. The top three institutional holders of OVV stocks are: VANGUARD GROUP INC with ownership of 24,605,468, which is approximately -6.385% of the company’s market cap and around 0.20% of the total institutional ownership; DODGE & COX, holding 22,247,885 shares of the stock with an approximate value of $1.17 billion in OVV stocks shares; and BLACKROCK INC., currently with $780.42 million in OVV stock with ownership of nearly -35.956% of the company’s market capitalization.
Positions in Ovintiv Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 228 institutional holders increased their position in Ovintiv Inc. [NYSE:OVV] by around 39,438,134 shares. Additionally, 218 investors decreased positions by around 50,247,218 shares, while 53 investors held positions by with 115,205,074 shares. The mentioned changes placed institutional holdings at 204,890,426 shares, according to the latest SEC report filing. OVV stock had 92 new institutional investments in for a total of 8,809,644 shares, while 64 institutional investors sold positions of 6,413,444 shares during the same period.