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These Numbers Show Favorable Signs for Ovintiv Inc. (OVV)

Ovintiv Inc. (NYSE: OVV) is -0.99% lower on its value in year-to-date trading and has touched a low of $34.41 and a high of $63.30 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The OVV stock was last observed hovering at around $51.35 in the last trading session, with the day’s loss setting it -1.14% off its average median price target of $63.50 for the next 12 months. It is also 40.93% off the consensus price target high of $85.00 offered by 28 analysts, but current levels are 1.55% higher than the price target low of $51.00 for the same period.

Currently trading at $50.21, the stock is 1.22% and -2.51% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.63 million and changing -2.22% at the moment leaves the stock -0.29% off its SMA200. OVV registered 36.85% gain for a year compared to 6-month gain of 5.77%.

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The stock witnessed a -3.72% loss in the last 1 month and extending the period to 3 months gives it a -1.55%, and is 0.44% 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 3.87% over the week and 4.01% over the month.

Ovintiv Inc. (OVV) has around 1713 employees, a market worth around $12.15B and $12.59B in sales. Current P/E ratio is 3.56 and Fwd P/E is 3.88. Profit margin for the company is 29.30%. Distance from 52-week low is 45.92% and -20.68% from its 52-week high. The company has generated returns on investments over the last 12 months (17.10%).

Ovintiv Inc. (OVV) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Ovintiv Inc. (OVV) is a “Overweight”. 28 analysts offering their recommendations for the stock have an average rating of 1.90, where 6 rate it as a Hold and 2 think it is a “Overweight”. 20 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Ovintiv Inc. is expected to release its quarterly report on 05/08/2023.The EPS is expected to grow by 122.60% this year.

Ovintiv Inc. (OVV) Top Institutional Holders

The shares outstanding are 252.50M, and float is at 244.68M with Short Float at 3.60%.

Ovintiv Inc. (OVV) Insider Activity

A total of 3 insider transactions have happened at Ovintiv Inc. (OVV) in the last six months, with sales accounting for 1 and purchases happening 2 times. The most recent transaction is an insider sale by Zemljak Renee Ellen,the company’sEVP, Midstream, Mrktg & Fndmtl. SEC filings show that Zemljak Renee Ellen sold 610 shares of the company’s common stock on Nov 23 at a price of $55.12 per share for a total of $33623.0. Following the sale, the insider now owns 71814.0 shares.

Ovintiv Inc. disclosed in a document filed with the SEC on Nov 14 that Mayson Howard John (Director) sold a total of 2,600 shares of the company’s common stock. The trade occurred on Nov 14 and was made at $56.21 per share for $0.15 million. Following the transaction, the insider now directly holds 0.0 shares of the OVV stock.

Still, SEC filings show that on Jun 07, RICKS THOMAS G (Director) disposed off 19,231 shares at an average price of $59.50 for $1.14 million. The insider now directly holds 116,269 shares of Ovintiv Inc. (OVV).

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