Currently, there are 271.70M common shares owned by the public and among those 265.64M shares have been available to trade.
The company’s stock has a 5-day price change of -5.96% and -9.82% over the past three months. OVV shares are trading 3.89% year to date (YTD), with the 12-month market performance up to 21.55% higher. It has a 12-month low price of $34.50 and touched a high of $55.95 over the same period. OVV has an average intraday trading volume of 2.91 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.14%, -10.20%, and -3.38% respectively.
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Institutional ownership of Ovintiv Inc (NYSE: OVV) shares accounts for 81.05% of the company’s 271.70M shares outstanding.
It has a market capitalization of $12.18B and a beta (3y monthly) value of 2.66. The stock’s trailing 12-month PE ratio is 6.37, while the earnings-per-share (ttm) stands at $7.16. The company has a PEG of 0.71 and a Quick Ratio of 0.52 with the debt-to-equity ratio at 0.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.60% over the week and 2.32% over the month.
Earnings per share for the fiscal year are expected to decrease by -7.51%, and 17.88% over the next financial year. EPS should grow at an annualized rate of 9.00% over the next five years, compared to 7.25% over the past 5-year period.
Looking at the support for the OVV, a number of firms have released research notes about the stock. Evercore ISI stated their Outperform rating for the stock in a research note on June 14, 2024, with the firm’s price target at $60. Barclays coverage for the Ovintiv Inc (OVV) stock in a research note released on April 10, 2024 offered a Overweight rating with a price target of $69. JP Morgan was of a view on December 06, 2023 that the stock is Overweight, while Citigroup gave the stock Buy rating on November 22, 2023, issuing a price target of $48- $52. Morgan Stanley on their part issued Equal-Weight rating on July 18, 2023.
