Ovintiv Inc. (OVV) attracts a new wave of investors despite economic turmoil

Ovintiv Inc. (NYSE: OVV) closed the day trading at 47.97 down -2.36% from the previous closing price of $49.13. In other words, the price has decreased by $-1.16 from its previous closing price. On the day, 2115390 shares were traded. OVV reached its highest trading level at $50.98 during the session, while it also had its lowest trading level at $47.95.

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For a better understanding of OVV, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 1579.29 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 7.69. For the most recent quarter (mrq), Quick Ratio is recorded 0.50 and its Current Ratio is at 0.50. In the meantime, Its Debt-to-Equity ratio is 0.68 whereas as Long-Term Debt/Eq ratio is at 0.64.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, BofA Securities on July 19, 2022, Upgraded its rating to Buy and sets its target price to $60 from $65 previously.

On June 28, 2022, JP Morgan Upgraded its rating to Overweight which previously was Neutral and also upped its target price recommendation from $56 to $64.

CapitalOne Upgraded its Equal Weight to Overweight on March 23, 2022, whereas the target price for the stock was revised from $61 to $82.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jun 07 when RICKS THOMAS G sold 19,231 shares for $59.50 per share. The transaction valued at 1,144,244 led to the insider holds 116,269 shares of the business.

Mayson Howard John sold 550 shares of OVV for $32,052 on Jun 01. The Director now owns 27,003 shares after completing the transaction at $58.28 per share. On May 27, another insider, Mayson Howard John, who serves as the Director of the company, sold 1,450 shares for $54.26 each. As a result, the insider received 78,679 and left with 27,553 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, OVV now has a Market Capitalization of 12.49B and an Enterprise Value of 17.37B. As of this moment, Ovintiv’s Price-to-Earnings (P/E) ratio for their current fiscal year is 5.22, and their Forward P/E ratio for the next fiscal year is 2.79. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.10. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.17 while its Price-to-Book (P/B) ratio in mrq is 2.12. Its current Enterprise Value per Revenue stands at 1.60 whereas that against EBITDA is 4.43.

Stock Price History:

The Beta on a monthly basis for OVV is 2.99, which has changed by 56.00% over the last 52 weeks, in comparison to a change of -14.81% over the same period for the S&P500. Over the past 52 weeks, OVV has reached a high of $63.30, while it has fallen to a 52-week low of $27.52. The 50-Day Moving Average of the stock is 49.17, while the 200-Day Moving Average is calculated to be 46.23.

Shares Statistics:

Over the past 3-months, OVV traded about 4.41M shares per day on average, while over the past 10 days, OVV traded about 3.26M shares per day. A total of 257.20M shares are outstanding, with a floating share count of 253.22M. Insiders hold about 0.20% of the company’s shares, while institutions hold 79.20% stake in the company. Shares short for OVV as of Aug 30, 2022 were 5.23M with a Short Ratio of 1.19, compared to 5.4M on Jul 28, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.06% and a Short% of Float of 2.32%.

Dividends & Splits

OVV’s forward annual dividend rate is 1.00, up from 0.73 a year ago. Against a Trailing Annual Dividend Yield of 1.49%, it implies a Forward Annual Dividend Yield of 2.04%. The stock’s 5-year Average Dividend Yield is 1.80. The current Payout Ratio is 7.80% for OVV, which recently paid a dividend on Sep 29, 2022 with an ex-dividend date of Sep 13, 2022. Stock splits for the company last occurred on Jan 26, 2020 when the company split stock in a 1:5 ratio.

Earnings Estimates

Current recommendations for the stock of the company come from 15 analysts. On average, analysts expect EPS of $2.81 for the current quarter, with a high estimate of $3.88 and a low estimate of $2.23, while EPS last year was $1.11. The consensus estimate for the next quarter is $3.07, with high estimates of $4.59 and low estimates of $2.18.

Analysts are recommending an EPS of between $15.65 and $6.31 for the fiscal current year, implying an average EPS of $10.87. EPS for the following year is $16.51, with 18 analysts recommending between $30.78 and $10.63.

Revenue Estimates

A total of 12 analysts have provided revenue estimates for OVV’s current fiscal year. The highest revenue estimate was $12.18B, while the lowest revenue estimate was $7.81B, resulting in an average revenue estimate of $10.58B. In the same quarter a year ago, actual revenue was $8.66B, up 22.20% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $11.77B in the next fiscal year. The high estimate is $14.29B and the low estimate is $8.84B. The average revenue growth estimate for next year is up 11.30% from the average revenue estimate for this year.