Is it Good Time to Bail on Ovintiv Inc. [OVV]? Let’s Look at the Charts

Over the past three months, Ovintiv Inc. [OVV] ended the trading day at $13.27 and exhibited a change of 3.43% with a 24 hour trading and reached upto the volume of 4.88M compared to its recorded trading volume of 3.45 million. OVV generated a 1 year amount change with -31.06%. Though for Principal markets a year is counted as a long time period. By having a look at the most recent performance of this stock, in the last week its amount moved by -1.56% with an amount shift of 36.52% over the last month.

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Analyst Birdseye View:

The most recent analyst activity for Ovintiv Inc. [NYSE:OVV] stock was on August 05, 2020, when it was Resumed with a Neutral rating from Credit Suisse, which also raised its 12-month price target on the stock to $11. Before that, on October 26, 2020, CIBC Recapitulated a Sector underperform rating and elevated its amount target to $11. On July 15, 2020, Wolfe Research Upgrade a Peer perform rating. On June 29, 2020, BMO Capital Markets Upgrade an Outperform rating and increased its price target to $13. On June 19, 2020, Mizuho Upgrade a Neutral rating. On May 14, 2020, BofA/Merrill Upgrade a Buy rating and boosted its amount on this stock to $8. On April 24, 2020, TD Securities Downgrade a Hold rating.

In the past 52 weeks of trading, this stock has oscillated between a low of $2.10 and a peak of $25.00. Right now, the middling Wall Street analyst 12-month amount mark is $11.50. At the most recent market close, shares of Ovintiv Inc. [NYSE:OVV] were valued at $13.27. According to the average price forecast, investors can expect a potential return of -37.3%.

FUNDAMENTAL ANALYSIS

Ovintiv Inc. [NYSE:OVV] most recently reported quarterly sales of 2.36 billion, which represented growth of -64.70%. This company’s Gross Margin is currently 69.30% and its Operating Margin is -44.20%.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 12.72 points at 1st support level, the second support level is making up to 12.17. But as of 1st resistance point, this stock is sitting at 13.78 and at 14.29 for 2nd resistance point.

Ovintiv Inc. [OVV] reported its earnings at -$0.03 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.21/share signifying the difference of 0.18 and 85.70% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$0.43 calling estimates for -$0.46/share with the difference of 0.03 depicting the surprise of 6.50%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Ovintiv Inc. [NYSE:OVV] is 0.90.

Insider Stories

The most recent insider trade was by Moore Rachel Maureen, EVP, Corporate Services, and it was the purchase of 6000.0 shares on Oct 02. Mayson Howard John, the Director, completed a sale of 8100.0 shares on Sep 25. On Sep 23, Suttles Douglas James, President & CEO, completed a purchase of 1200.0 shares.