Ovintiv Inc [NYSE: OVV] stock went on a downward path that fall over -3.05% on Wednesday, amounting to a one-week price increase of more than 0.35%.
Over the last 12 months, OVV stock rose by 45.58%. The one-year Ovintiv Inc stock forecast points to a potential upside of 18.57. The average equity rating for OVV stock is currently 1.88, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $13.69 billion, with 271.70 million shares outstanding and 252.90 million shares in the current float. Compared to the average trading volume of 3.16M shares, OVV stock reached a trading volume of 6413754 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 $62.52 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 1.88. 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.
Barclays have made an estimate for Ovintiv Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 10, 2024. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $61 to $58. The new note on the price target was released on December 06, 2023, representing the official price target for Ovintiv Inc stock. Previously, the target price had yet another raise from $48 to $52, while Citigroup kept a Buy rating on OVV stock.
The Average True Range (ATR) for Ovintiv Inc is set at 1.26, with the Price to Sales ratio for OVV stock in the period of the last 12 months amounting to 1.29. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 0.02. Price to Free Cash Flow for OVV in the course of the last twelve months was 13.42 with Quick ratio for the last quarter at 0.52.
OVV Stock Performance Analysis:
Ovintiv Inc [OVV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.35. With this latest performance, OVV shares dropped by -8.37% in over the last four-week period, additionally plugging by 7.41% over the last 6 months – not to mention a rise of 45.58% 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 42.78, with the RSI for the last a single of trading hit 38.19, and the three-weeks RSI is set at 47.03 for Ovintiv Inc [OVV]. The present Moving Average for the last 50 days of trading for this stock 51.83, while it was recorded at 51.69 for the last single week of trading, and 46.97 for the last 200 days.
Insight into Ovintiv Inc Fundamentals:
Ovintiv Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.52 and a Current Ratio set at 0.52.
OVV Stock EPS
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] Institutonal Ownership Details
The top three institutional holders of OVV stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in OVV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in OVV stock with ownership which is approximately 5.8386%.
