Ovintiv Inc [OVV] stock is trading at $53.14, up 0.45%. 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 3.12% over the last week, with a monthly amount glided 3.79%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Ovintiv Inc [NYSE: OVV] stock has seen the most recent analyst activity on April 10, 2024, when Barclays initiated its Overweight rating and assigned the stock a price target of $69. Previously, JP Morgan upgraded its rating to Overweight on December 06, 2023, and dropped its price target to $58. On November 22, 2023, upgrade upgraded it’s rating to Buy and revised its price target to $52 on the stock. UBS started tracking with a Buy rating for this stock on April 19, 2023, and assigned it a price target of $52. In a note dated April 17, 2023, Wells Fargo downgraded an Equal Weight rating on this stock and revised its target price from $64 to $40.
Ovintiv Inc [OVV] stock has fluctuated between $32.07 and $55.95 over the past year. Currently, Wall Street analysts expect the stock to reach $56.62 within the next 12 months. Ovintiv Inc [NYSE: OVV] shares were valued at $53.14 at the most recent close of the market. An investor can expect a potential return of 6.55% based on the average OVV price forecast.
Analyzing the OVV fundamentals
Ovintiv Inc [NYSE:OVV] reported sales of 10.72B for the trailing twelve months, which represents 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 52.49 points at the first support level, and at 51.83 for the second support level. However, for the 1st resistance point, the stock is sitting at 53.62, and for the 2nd resistance point, it is at 54.10.
Ratios To Look Out For
For context, Ovintiv Inc’s Current Ratio 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 1.33, the price to book ratio is 1.39 and price to earnings (TTM) ratio is 6.74.
Transactions by insiders
Recent insider trading involved Zemljak Renee Ellen, EVP, Midstream, Mrktg & Fndmtl, that happened on Mar 14 ’24 when 76264.0 shares were sold. EVP, Corporate Services, Moore Rachel Maureen completed a deal on Mar 01 ’24 to sell 9300.0 shares. Meanwhile, Director Mayson Howard John sold 6000.0 shares on Mar 01 ’24.
