Ovintiv Inc [NYSE: OVV] plunged by -$1.79 during the normal trading session on Tuesday and reaching a high of $46.50 during the day while it closed the day at $45.61. The company report on November 7, 2023 at 5:03 PM that Ovintiv Reports Third Quarter 2023 Financial and Operating Results.
Strong Well Results and Successful Acquisition Integration Drive Increased Full Year Production Guidance.
Ovintiv Inc stock has also loss -4.98% of its value over the past 7 days. However, OVV stock has declined by -6.84% in the 3 months of the year. Over the past six months meanwhile, it has gained 31.14% and lost -10.06% year-on date.
The market cap for OVV stock reached $12.49 billion, with 245.70 million shares outstanding and 239.06 million shares in the current float. Compared to the average trading volume of 2.79M shares, OVV reached a trading volume of 3880047 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 $57.96 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 1.96. 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.
Morgan Stanley have made an estimate for Ovintiv Inc shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on July 18, 2023.
The Average True Range (ATR) for Ovintiv Inc is set at 1.48, with the Price to Sales ratio for OVV stock in the period of the last 12 months amounting to 1.05. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 0.19. Price to Free Cash Flow for OVV in the course of the last twelve months was 8.11 with Quick ratio for the last quarter at 0.45.
OVV stock trade performance evaluation
Ovintiv Inc [OVV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.98. With this latest performance, OVV shares dropped by -5.82% in over the last four-week period, additionally plugging by 31.14% over the last 6 months – not to mention a drop of -14.60% 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 38.29, with the RSI for the last a single of trading hit 31.52, and the three-weeks RSI is set at 42.72 for Ovintiv Inc [OVV]. The present Moving Average for the last 50 days of trading for this stock 47.68, while it was recorded at 47.71 for the last single week of trading, and 42.20 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 0.45 and a Current Ratio set at 0.45.
Earnings per share (EPS) analysis for Ovintiv Inc [OVV] stock
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 13.10%.
Ovintiv Inc [OVV]: Institutional Ownership
The top three institutional holders of OVV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in OVV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in OVV stock with ownership which is approximately 5.7994%.