Ovintiv Inc. (NYSE: OVV) is 57.52% higher on its value in year-to-date trading and has touched a low of $2.10 and a high of $23.19 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The OVV stock was last observed hovering at around $21.36 in the last trading session, with the day’s gains setting it 1.26% off its average median price target of $21.00 for the next 12 months. It is also 27.03% off the consensus price target high of $31.00 offered by 27 analysts, but current levels are -74.0% lower than the price target low of $13.00 for the same period.
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Currently trading at $22.62, the stock is 19.65% and 33.03% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.63 million and changing 5.90% at the moment leaves the stock 92.91% off its SMA200. OVV registered 42.98% gain for a year compared to 6-month gain of 98.77%. The firm has a 50-day simple moving average (SMA 50) of $18.22 and a 200-day simple moving average (SMA200) of $12.93.
The stock witnessed a 32.67% loss in the last 1 month and extending the period to 3 months gives it a 84.35%, and is 4.29% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.27% over the week and 5.91% over the month.
Ovintiv Inc. (OVV) has around 1916 employees, a market worth around $5.77B and $6.12B in sales. Fwd P/E is 9.03. Profit margin for the company is -99.60%. Distance from 52-week low is 977.14% and -2.46% from its 52-week high. The company has generated returns on investments over the last 12 months (-53.20%).
Ovintiv Inc. (OVV) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Ovintiv Inc. (OVV) is a “Hold”. 27 analysts offering their recommendations for the stock have an average rating of 2.80, where 18 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
Ovintiv Inc. quarterly earnings per share for the current quarter are estimated at $0.47 with sales reaching $1.54B over the same period.The EPS is expected to grow by 491.40% this year, but quarterly earnings will post -1.50% year-over-year. Quarterly sales are estimated to shrink -41.90% in year-over-year returns.
Ovintiv Inc. (OVV) Top Institutional Holders
373 institutions hold shares in Ovintiv Inc. (OVV), with 3.19M shares held by insiders accounting for 1.23% while institutional investors hold 72.14% of the company’s shares. The shares outstanding are 259.80M, and float is at 257.09M with Short Float at 5.60%. Institutions hold 71.25% of the Float.
The top institutional shareholder in the company is Dodge & Cox Inc with over 36.26 million shares valued at $295.9 million. The investor’s holdings represent 13.95% of the OVV Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 24.19 million shares valued at $197.38 million to account for 9.31% of the shares outstanding. The other top investors are Blackrock Inc. which holds 20.2 million shares representing 7.77% and valued at over $290.13 million, while State Street Corporation holds 4.01% of the shares totaling 10.42 million with a market value of $85.05 million.
Ovintiv Inc. (OVV) Insider Activity
The most recent transaction is an insider purchase by Moore Rachel Maureen, the company’s EVP, Corporate Services. SEC filings show that Moore Rachel Maureen bought 6,000 shares of the company’s common stock on Oct 02 at a price of $7.42 per share for a total of $44520.0. Following the purchase, the insider now owns 6000.0 shares.
Ovintiv Inc. disclosed in a document filed with the SEC on Sep 25 that Mayson Howard John (Director) sold a total of 8,100 shares of the company’s common stock. The trade occurred on Sep 25 and was made at $8.48 per share for $68696.0. Following the transaction, the insider now directly holds 16121.0 shares of the OVV stock.
Still, SEC filings show that on Sep 23, Suttles Douglas James (President & CEO) acquired 1,200 shares at an average price of $8.50 for $10200.0. The insider now directly holds 94,535 shares of Ovintiv Inc. (OVV).