Currently, Ovintiv Inc [OVV] is trading at $48.75, down -0.27%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The OVV shares have gain 5.84% over the last week, with a monthly amount glided 17.41%, and seem to be holding up well over a long-time horizon.
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On 27, February 2024, Ovintiv Reports Fourth Quarter and Year-End 2023 Financial and Operating Results. In a post published today on Yahoo Finance, Strong 2023 Operational Execution; Enhanced Capital Efficiency Expected in 2024.
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.
This stock has fluctuated between a low of $32.07 and a high of $51.60 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $54.92 within the next 12 months. Ovintiv Inc [NYSE: OVV] shares were valued at $48.75 at the most recent close of the market. An investor can expect a potential return of 12.66% based on the average OVV price forecast.
Analyzing the OVV fundamentals
Trailing Twelve Months sales for Ovintiv Inc [NYSE:OVV] were 10.72B which represents -12.22% decline. Gross Profit Margin for this corporation currently stands at 0.58% with Operating Profit Margin at 0.26%, Pretax Profit Margin comes in at 0.23%, and Net Profit Margin reading is 0.23%. To continue investigating profitability, this company’s Return on Assets is posted at 0.13, Equity is 0.3 and Total Capital is 0.17. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.74.
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 48.43 points at the first support level, and at 48.12 for the second support level. However, for the 1st resistance point, the stock is sitting at 49.18, and for the 2nd resistance point, it is at 49.62.
Ovintiv Inc [OVV] reported earnings per share of $2.35 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.95/share, meaning a difference of $0.4 and a surprise factor of 20.50%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.74 per share as compared to estimates of $1.75 per share, a difference of -$0.01 representing a surprise of -0.60%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Ovintiv Inc [NYSE:OVV] is 0.60. Also, the Quick Ratio is 0.60, while the Cash Ratio stands at 0.0. Considering the valuation of this stock, the price to sales ratio is 1.23, the price to book ratio is 1.28 and price to earnings (TTM) ratio is 6.18.
Transactions by insiders
Recent insider trading involved Moore Rachel Maureen, EVP, Corporate Services, that happened on Mar 01 when 9300.0 shares were sold. Director, Mayson Howard John completed a deal on Mar 01 to sell 6000.0 shares. Meanwhile, EVP, GC & Corporate Secretary Eilers Meghan Nicole sold 7000.0 shares on Dec 06.
