Ovintiv Inc [OVV] stock prices are down -0.63% to $45.97 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The OVV shares have gain 4.17% over the last week, with a monthly amount glided 8.93%, and seem to be holding up well over a long-time horizon.
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On 26, January 2024, Ovintiv to Host its 2023 Fourth Quarter and Year-End Results Conference Call and Webcast on February 28, 2024. In a post published today on Yahoo Finance, Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2023 fourth quarter and year-end results conference call at 8:00 a.m. MT, on Wednesday February 28, 2024. The Company plans to release its financial and operating results after market close, Tuesday February 27, 2024. In addition to the release, supplemental slides and financial statements will be available on the Company’s website, located at www.ovintiv.com.
From an analyst’s perspective:
Ovintiv Inc [NYSE: OVV] stock has seen the most recent analyst activity on December 06, 2023, when JP Morgan upgraded its rating to a Overweight and also revised its price target to $58 from $61. Previously, Citigroup upgraded its rating to Buy on November 22, 2023, and elevated its price target to $52. UBS initiated its recommendation with a Buy and recommended $52 as its price target on April 19, 2023. Wells Fargo downgraded its rating to Equal Weight for this stock on April 17, 2023, and downed its price target to $40. In a note dated March 23, 2023, Citigroup downgraded an Neutral rating on this stock and revised its target price from $55 to $38.
The stock price of Ovintiv Inc [OVV] has been fluctuating between $32.07 and $51.60 over the past year. Currently, Wall Street analysts expect the stock to reach $54.92 within the next 12 months. Ovintiv Inc [NYSE: OVV] shares were valued at $45.97 at the most recent close of the market. An investor can expect a potential return of 19.47% based on the average OVV price forecast.
Analyzing the OVV fundamentals
The Ovintiv Inc [NYSE:OVV] reported sales of 11.12B for trailing twelve months, representing a drop of -19.92%. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 45.42 points at the first support level, and at 44.88 for the second support level. However, for the 1st resistance point, the stock is sitting at 46.32, and for the 2nd resistance point, it is at 46.68.
Ovintiv Inc [OVV] reported earnings per share of $1.74 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.75/share, meaning a difference of -$0.01 and a surprise factor of -0.60%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were $0.93 per share as compared to estimates of $0.82 per share, a difference of $0.11 representing a surprise of 13.40%.
Ratios To Look Out For
It’s worth pointing out that Ovintiv Inc [NYSE:OVV]’s Current Ratio is 0.45. Further, the Quick Ratio stands at 0.45, while the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 1.13, the price to book ratio is 1.31 and price to earnings (TTM) ratio is 4.56.
Transactions by insiders
Recent insider trading involved Eilers Meghan Nicole, EVP, GC & Corporate Secretary, that happened on Dec 06 when 7000.0 shares were sold. Director, NANCE STEVEN W completed a deal on Nov 29 to sell 13000.0 shares. Meanwhile, Director NANCE STEVEN W sold 1201.0 shares on Aug 03.
