Ovintiv Inc [NYSE: OVV] gained 1.73% on the last trading session, reaching $41.22 price per share at the time.
If compared to the average trading volume of 3.06M shares, OVV reached a trading volume of 5570566 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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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 $58.00 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 1.78. 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.
Wolfe Research have made an estimate for Ovintiv Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 18, 2024. The new note on the price target was released on June 14, 2024, representing the official price target for Ovintiv Inc stock. Previously, the target price had yet another raise to $69, while Barclays analysts kept a Overweight rating on OVV stock. On December 06, 2023, analysts decreased their price target for OVV shares from 61 to 58.
The Average True Range (ATR) for Ovintiv Inc is set at 1.14, 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 1.05, 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 8.90 with Quick ratio for the last quarter at 0.44.
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 5.26. With this latest performance, OVV shares dropped by -3.26% in over the last four-week period, additionally sinking by -19.10% over the last 6 months – not to mention a drop of -8.79% 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 50.04, with the RSI for the last a single of trading hit 58.93, and the three-weeks RSI is set at 46.23 for Ovintiv Inc [OVV]. The present Moving Average for the last 50 days of trading for this stock 42.97, while it was recorded at 40.40 for the last single week of trading, and 46.28 for the last 200 days.
Ovintiv Inc [OVV]: A deeper dive into fundamental analysis
Ovintiv Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.44 and a Current Ratio set at 0.44.
Ovintiv Inc [OVV]: An earnings per share (EPS) analysis
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 9.00%.
An analysis of Institutional ownership at Ovintiv Inc [OVV]
There are presently around $83.00%, or 83.40%% of OVV stock, in the hands of institutional investors. The top three institutional holders of OVV stocks are: BLACKROCK INC. with ownership of 29.97 million shares, which is approximately 11.1116%. VANGUARD GROUP INC, holding 28.03 million shares of the stock with an approximate value of $$1.31 billion in OVV stocks shares; and VANGUARD GROUP INC, currently with $$1.03 billion in OVV stock with ownership which is approximately 8.1839%.
