At the time of writing, Ovintiv Inc [OVV] stock is trading at $46.67, down -1.14%. An important factor to consider is whether the stock is rising or falling in short-term value. The OVV shares have gain 2.28% over the last week, with a monthly amount drifted -3.33%, and not 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 June 14, 2024, when Evercore ISI upgraded its rating to a Outperform but kept the price target unchanged to $60 for it. Previously, Barclays started tracking the stock with Overweight rating on April 10, 2024, and set its price target to $69. On December 06, 2023, upgrade upgraded it’s rating to Overweight and revised its price target to $58 on the stock. Citigroup upgraded its rating to a Buy and increased its price target to $52 on November 22, 2023. In a note dated April 19, 2023, UBS initiated an Buy rating and provided a target price of $52 on this stock.
For the past year, the stock price of Ovintiv Inc fluctuated between $34.95 and $55.95. Currently, Wall Street analysts expect the stock to reach $57.2 within the next 12 months. Ovintiv Inc [NYSE: OVV] shares were valued at $46.67 at the most recent close of the market. An investor can expect a potential return of 22.56% based on the average OVV price forecast.
Analyzing the OVV fundamentals
According to Ovintiv Inc [NYSE:OVV], the company’s sales were 10.62B for trailing twelve months, which represents an -3.95% plunge. Gross Profit Margin for this corporation currently stands at 0.42% with Operating Profit Margin at 0.24%, Pretax Profit Margin comes in at 0.22%, and Net Profit Margin reading is 0.18%. To continue investigating profitability, this company’s Return on Assets is posted at 0.1, Equity is 0.2 and Total Capital is 0.15. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.61.
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 46.22 points at the first support level, and at 45.77 for the second support level. However, for the 1st resistance point, the stock is sitting at 47.06, and for the 2nd resistance point, it is at 47.45.
Ratios To Look Out For
It is important to note that Ovintiv Inc [NYSE:OVV] has a current ratio of 0.52. On the other hand, the Quick Ratio is 0.52, and the Cash Ratio is 0.0. Considering the valuation of this stock, the price to sales ratio is 1.17, the price to book ratio is 1.22 and price to earnings (TTM) ratio is 6.52.
Transactions by insiders
Recent insider trading involved Mayson Howard John, Director, that happened on May 31 ’24 when 4000.0 shares were sold. Director, Chhina Sippy completed a deal on May 14 ’24 to buy 1600.0 shares. Meanwhile, Director NANCE STEVEN W sold 12000.0 shares on May 13 ’24.
