Ovintiv Inc [OVV] stock prices are up 0.51% to $50.88 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The OVV shares have gain 4.37% over the last week, with a monthly amount glided 22.43%, and seem to be holding up well over a long-time horizon.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
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.
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 $50.88 at the most recent close of the market. An investor can expect a potential return of 7.94% based on the average OVV price forecast.
Analyzing the OVV fundamentals
The Ovintiv Inc [NYSE:OVV] reported sales of 10.72B for trailing twelve months, representing a drop of -12.22%. Gross Profit Margin for this corporation currently stands at 0.47% with Operating Profit Margin at 0.24%, Pretax Profit Margin comes in at 0.24%, and Net Profit Margin reading is 0.2%. To continue investigating profitability, this company’s Return on Assets is posted at 0.1, Equity is 0.22 and Total Capital is 0.15. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.56.
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 50.41 points at the first support level, and at 49.94 for the second support level. However, for the 1st resistance point, the stock is sitting at 51.13, and for the 2nd resistance point, it is at 51.37.
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
It’s worth pointing out that Ovintiv Inc [NYSE:OVV]’s Current Ratio is 0.60. As well, the Quick Ratio is 0.60, while the Cash Ratio is 0.0. Considering the valuation of this stock, the price to sales ratio is 1.28, the price to book ratio is 1.33 and price to earnings (TTM) ratio is 6.45.
Transactions by insiders
Recent insider trading involved Moore Rachel Maureen, EVP, Corporate Services, that happened on Mar 01 ’24 when 9300.0 shares were sold. Director, Mayson Howard John completed a deal on Mar 01 ’24 to sell 6000.0 shares. Meanwhile, EVP, GC & Corporate Secretary Eilers Meghan Nicole sold 7000.0 shares on Dec 06 ’23.
