It’s an appealing income play to consider Ovintiv Inc. (OVV)

The price of Ovintiv Inc. (NYSE: OVV) closed at $33.35 in the last session, down -9.84% from day before closing price of $36.99. In other words, the price has decreased by -$3.64 from its previous closing price. On the day, 7392357 shares were traded. OVV stock price reached its highest trading level at $35.00 during the session, while it also had its lowest trading level at $32.26.

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We take a closer look at OVV’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 1687.04 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 4.70. For the most recent quarter (mrq), Quick Ratio is recorded 0.60 and its Current Ratio is at 0.60. In the meantime, Its Debt-to-Equity ratio is 0.47 whereas as Long-Term Debt/Eq ratio is at 0.42.

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, JP Morgan on March 14, 2023, Downgraded its rating to Neutral and sets its target price to $53 from $59 previously.

On March 07, 2023, BMO Capital Markets Downgraded its rating to Market Perform which previously was Outperform and also lowered its target price recommendation from $56 to $51.

On January 25, 2023, Wells Fargo started tracking the stock assigning a Overweight rating and target price of $71.Wells Fargo initiated its Overweight rating on January 25, 2023, with a $71 target price.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Mar 03 when Zemljak Renee Ellen sold 70,424 shares for $46.40 per share. The transaction valued at 3,267,674 led to the insider holds 0 shares of the business.

Mayson Howard John sold 3,000 shares of OVV for $136,860 on Mar 02. The Director now owns 21,403 shares after completing the transaction at $45.62 per share. On Nov 23, another insider, Zemljak Renee Ellen, who serves as the EVP, Midstream, Mrktg & Fndmtl of the company, sold 610 shares for $55.12 each. As a result, the insider received 33,623 and left with 71,814 shares of the company.

Valuation Measures:

As of this moment, Ovintiv’s Price-to-Earnings (P/E) ratio for their current fiscal year is 2.35, and their Forward P/E ratio for the next fiscal year is 3.05. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.06. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.68 while its Price-to-Book (P/B) ratio in mrq is 1.07.

Stock Price History:

Over the past 52 weeks, OVV has reached a high of $63.30, while it has fallen to a 52-week low of $36.11. The 50-Day Moving Average of the stock is 46.33, while the 200-Day Moving Average is calculated to be 49.44.

Shares Statistics:

According to the various share statistics, OVV traded on average about 3.21M shares per day over the past 3-months and 4.6M shares per day over the past 10 days. A total of 247.30M shares are outstanding, with a floating share count of 243.52M. Insiders hold about 0.10% of the company’s shares, while institutions hold 78.20% stake in the company. Shares short for OVV as of Jan 30, 2023 were 7.9M with a Short Ratio of 5.39M, compared to 8.8M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 3.18% and a Short% of Float of 3.59%.

Dividends & Splits

The forward annual dividend rate for OVV is 1.00, which was 0.42 in the trailing 12 months. Against a Trailing Annual Dividend Yield of 1.14%, it implies a Forward Annual Dividend Yield of 2.18%. The stock’s 5-year Average Dividend Yield is 1.90. The current Payout Ratio is 6.60% for OVV, which recently paid a dividend on Mar 30, 2023 with an ex-dividend date of Dec 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

The company has 19 analysts who recommend its stock at the moment. On average, analysts expect EPS of $1.91 for the current quarter, with a high estimate of $2.77 and a low estimate of $1.48, while EPS last year was $1.25. The consensus estimate for the next quarter is $2.97, with high estimates of $4.42 and low estimates of $1.91.

Analysts are recommending an EPS of between $14.39 and $7.4 for the fiscal current year, implying an average EPS of $9.11. EPS for the following year is $12.47, with 19 analysts recommending between $19.33 and $7.68.

Revenue Estimates

According to 10 analysts, the current quarter’s revenue is expected to be $2.6B. It ranges from a high estimate of $2.92B to a low estimate of $1.83B. As of the current estimate, Ovintiv Inc.’s year-ago sales were $3.34B, an estimated decrease of -22.10% from the year-ago figure. For the next quarter, 8 analysts are estimating revenue of $2.94B, a decrease of -14.10% over than the figure of -$22.10% in the same quarter last year. There is a high estimate of $3.25B for the next quarter, whereas the lowest estimate is $2.65B.

A total of 14 analysts have provided revenue estimates for OVV’s current fiscal year. The highest revenue estimate was $14.75B, while the lowest revenue estimate was $10.28B, resulting in an average revenue estimate of $12.04B. In the same quarter a year ago, actual revenue was $8.66B, up 39.10% from the average estimate. Based on 13 analysts’ estimates, the company’s revenue will be $11.87B in the next fiscal year. The high estimate is $13.48B and the low estimate is $8.07B. The average revenue growth estimate for next year is down -1.40% from the average revenue estimate for this year.