Ovintiv Inc. (NYSE:OVV) does about 3.51M shares in volume on a normal day but saw 3015033 shares change hands in Monday trading. The company now has a market cap of 12.43B USD. Its current market price is $51.35, marking an increase of 2.35% compared to the previous close of $50.17. The 52 week high reached by this stock is $63.30 whilst the lowest price level in 52 weeks is $34.41. The script in recent trading has seen the stock touch a high of $51.55 and a low of $50.29.
Ovintiv Inc. (OVV) has a 20-day trading average at $49.60 and the current price is -18.88% off the 52-week high compared with 49.23% distance from its 52-week low. The 50-day simple moving average of the closing price is $51.51 and its 200-day simple moving average is $50.35. If we look at the stock’s price movements over the week, volatility stands at 3.76%, which increases to 4.04% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 54.07 to suggest the stock is neutral.
The consensus objective for the share price is $66.44, suggesting that the stock has a potential upside of 22.71% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 10, 2023 when Mizuho resumed the stock to “Buy” and issued a price target of between $61 and $68. RBC Capital Mkts downgraded its price target at $58-$57.
The current price level is 3.44%, -0.45%, and 1.97% away from its SMA20, SMA50, and SMA200 respectively, with the OVV price moving above the 50-day SMA on January 23. Ovintiv Inc. (OVV) stock is up 2.13% over the week and 3.80% over the past month. Its price is 1.26% year-to-date and 35.56% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $1.44 below consensus estimates by -$0.53. The company’s next earnings report is expected on 05/08/2023, with forecasts estimating quarterly EPS at $1.98 and $9.03 for whole year. OVV’s earnings per share are forecast to grow by 84.30% this year and 43.30% over next year. Expected sales for next quarter are $3.28 billion, which analysts say will come at $11.88 billion for the current fiscal year and next year at $12.47 billion. In addition, estimates put the company’s current quarterly revenue at an average of $2.64 billion.
Its 12-month price target is $62.00. To reach the target analysts have set, the stock logically needs to grow 22.71 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $56.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $85.00.
Outstanding shares total 252.50M with insiders holding 0.43% of the shares and institutional holders owning 79.37% of the company’s common stock. The company has a return on investment of 17.10% and return on equity of 66.60%. The price to earnings ratio (P/E ratio) amounts to 3.64 while the forward price to earnings ratio is 3.97. The beta has a value of 2.87. Price to book ratio is 1.98 and price to sales ratio is 0.99.
Dodge & Cox International Stock F isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which sold off -0.12 million shares to end up with 7,554,657 shares worth $383.1 million. Vanguard Small Cap Index Fund cut their holdings by -2.61% in the company over the course of the most recent quarter. It now holds a 2.58% position in Ovintiv Inc. thanks to 6.4 million shares amounting to $324.37 million.