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Why Ovintiv Inc. (OVV) Stock Could See Much Higher Prices Ahead

Ovintiv Inc. (NYSE: OVV) is 45.79% higher on its value in year-to-date trading and has touched a low of $27.52 and a high of $63.30 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 $49.74 in the last trading session, with the day’s loss setting it -0.61%.

Currently trading at $49.13, the stock is -5.80% and 0.51% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.41 million and changing -1.23% at the moment leaves the stock 6.62% off its SMA200. OVV registered 74.34% gain for a year compared to 6-month loss of -3.17%.

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The stock witnessed a -0.85% gain in the last 1 month and extending the period to 3 months gives it a -2.77%, and is -4.90% down 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 4.53% over the week and 4.21% over the month.

Ovintiv Inc. (OVV) has around 1713 employees, a market worth around $12.94B and $10.83B in sales. Current P/E ratio is 5.34 and Fwd P/E is 2.86. Profit margin for the company is 22.40%. Distance from 52-week low is 78.52% and -22.39% from its 52-week high. The company has generated returns on investments over the last 12 months (17.10%).

Ovintiv Inc. is expected to release its quarterly report on 11/01/2022.The EPS is expected to grow by 122.60% this year.

Ovintiv Inc. (OVV) Top Institutional Holders

The shares outstanding are 257.20M, and float is at 253.22M with Short Float at 2.07%.

Ovintiv Inc. (OVV) Insider Activity

A total of 0 insider transactions have happened at Ovintiv Inc. (OVV) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider sale by RICKS THOMAS G,the company’sDirector. SEC filings show that RICKS THOMAS G sold 19,231 shares of the company’s common stock on Jun 07 at a price of $59.50 per share for a total of $1.14 million. Following the sale, the insider now owns 0.12 million shares.

Ovintiv Inc. disclosed in a document filed with the SEC on Jun 01 that Mayson Howard John (Director) sold a total of 550 shares of the company’s common stock. The trade occurred on Jun 01 and was made at $58.28 per share for $32052.0. Following the transaction, the insider now directly holds 27003.0 shares of the OVV stock.

Still, SEC filings show that on May 27, Mayson Howard John (Director) disposed off 1,450 shares at an average price of $54.26 for $78679.0. The insider now directly holds 27,553 shares of Ovintiv Inc. (OVV).

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