Ovintiv Inc (OVV) concluded trading on Wednesday at a closing price of $51.36, with 2.98 million shares of worth about $153.26 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 10.33% during that period and on March 27, 2024 the price saw a gain of about 0.31%. Currently the company’s common shares owned by public are about 271.70M shares, out of which, 253.46M shares are available for trading.
However, the stock later moved at a day high price of 51.54, or with a gain of 0.31%. Stock saw a price change of -0.21% in past 5 days and over the past one month there was a price change of 11.51%. Year-to-date (YTD), OVV shares are showing a performance of 16.94% which increased to 46.62% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $32.07 but also hit the highest price of $52.09 during that period. The average intraday trading volume for Ovintiv Inc shares is 3.16 million. The stock is currently trading 2.06% above its 20-day simple moving average (SMA20), while that difference is up 12.10% for SMA50 and it goes to 14.69% higher than SMA200.
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Ovintiv Inc (NYSE: OVV) currently have 271.70M outstanding shares and institutions hold larger chunk of about 79.28% of that.
The stock has a current market capitalization of $13.84B and its 3Y-monthly beta is at 2.67. PE ratio of stock for trailing 12 months is 6.51, while it has posted earnings per share of $7.88 in the same period. Its PEG reads 0.50 and has Quick Ratio of 0.60 while making debt-to-equity ratio of 0.64. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OVV, volatility over the week remained 1.51% while standing at 2.12% over the month.
Analysts are in expectations that Ovintiv Inc (OVV) stock would likely to be making an EPS of $1.39 in the current quarter, while forecast for next quarter EPS is $1.43 and it is $7.03 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.98 which is $1.92 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.81 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -7.80% while it is estimated to increase by 14.49% in next year. EPS is likely to grow at an annualized rate of 13.10% for next 5-years, compared to annual growth of 7.25% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on December 06, 2023 offering an Overweight rating for the stock and assigned a target price range of between $61 and $58 to it. Coverage by Citigroup stated Ovintiv Inc (OVV) stock as a Buy in their note to investors on November 22, 2023, suggesting a price target of $52 for the stock. On July 18, 2023, Morgan Stanley Resumed their recommendations, while on July 12, 2023, Goldman Resumed their ratings for the stock with a price target of $38. Stock get a Buy rating from UBS on April 19, 2023.
