Ovintiv Inc. (NYSE:OVV) does about 8.43M shares in volume on a normal day but saw 3589859 shares change hands in Friday trading. The company now has a market cap of 2.89B USD and an enterprise value of about $2.90B. Its current market price is $11.45, marking an increase of 2.97% compared to the previous close of $11.12. The 52 week high reached by this stock is $28.75 whilst the lowest price level in 52 weeks is $2.10. The script in recent trading has seen the stock touch a high of $11.51 and a low of $10.88.
Ovintiv Inc. (OVV) has a 20-day trading average at $10.48 and the current price is -60.17% off the 52-week high compared with 445.24% distance from its 52-week low. The 50-day simple moving average of the closing price is $10.01 and its 200-day simple moving average is $12.80. If we look at the stock’s price movements over the week, volatility stands at 5.96%, which decreases to 5.45% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 61.21 to suggest the stock is neutral.
29 analysts observing the Ovintiv Inc. (OVV) stock have set the 12-month price targets for the company’s shares at between $3.00 and $17.00. The consensus objective for the share price is $15.53, suggesting that the stock has a potential upside of 26.27% over the period. The median price target is -4.09% away from the current levels at $11.00.
FactSet Research has provided data showing that 29 brokerages have issued ratings for the stock. 3 analysts have rated it as a sell, while 1 advise that it is a overweight. 5 analysts have rated it as a buy and 20 have advised that investors hold their positions. The consensus recommendation rating is Hold and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 05, 2020 when Credit Suisse resumed the stock to “Neutral” and issued a price target of $11. Wolfe Research upgraded the stock to “Peer Perform” from Underperform on July 15, 2020 at a price target of. BMO Capital Markets upgraded its price target at $13.
The current price level is 10.09%, 15.16%, and -10.84% away from its SMA20, SMA50, and SMA200 respectively, with the OVV price moving below the 50-day SMA on August 07. Ovintiv Inc. (OVV) stock is up 18.16% over the week and 23.12% over the past month. Its price is -51.17% year-to-date and -45.86% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.43 above consensus estimates by $0.03. OVV’s earnings per share are forecast to shrink by -115.20% this year and 74.00% over next year. Expected sales for next quarter are $1.45 billion, which analysts say will come at $6.19 billion for the current fiscal year and next year at $5.2 billion. In addition, estimates put the company’s current quarterly revenue at an average of $1.31 billion.
Its 12-month price target is $11.00. To reach the target analysts have set, the stock logically needs to grow 26.27 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $3.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $17.00.
The company has a return on investment of 2.80% and return on equity of 9.00%. The price to earnings ratio (P/E ratio) amounts to 3.39. The beta has a value of 4.15. Price to book ratio is 0.29 and price to sales ratio is 0.36.
According to a U.S. Securities and Exchange Commission filing, Dodge & Cox Funds – International has reduced its position in Ovintiv Inc. (OVV) to 28,485,424 shares, mirroring a recent drop by 0.00%. Dodge & Cox Funds – International dumped 0.0 shares of Ovintiv Inc. common stock bringing its total worth to about $272.04 million at the end of recent close, SEC documents show.