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Are we looking at the next big move in Ovintiv Inc (OVV)?

Ovintiv Inc (NYSE: OVV) is 19.56% higher on its value in year-to-date trading and has touched a low of $32.07 and a high of $52.39 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 $52.10 in the last trading session, with the day’s gains setting it 0.41%.

Currently trading at $52.51, the stock is 3.55% and 12.92% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.77 million and changing 0.79% at the moment leaves the stock 16.71% off its SMA200. OVV registered 49.22% gain for a year compared to 6-month gain of 10.38%. The firm has a 50-day simple moving average (SMA 50) of $1.91 and a 200-day simple moving average (SMA200) of $4.44.

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The stock witnessed a 4.19% loss in the last 1 month and extending the period to 3 months gives it a 19.56%, and is 1.53% 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 1.32% over the week and 1.72% over the month.

Ovintiv Inc (OVV) has around 1743 employees, a market worth around $14.12B and $10.72B in sales. Current P/E ratio is 6.66 and Fwd P/E is 7.34. Profit margin for the company is 19.44%. Distance from 52-week low is 63.74% and 0.23% from its 52-week high. The company has generated returns on investments over the last 12 months (12.50%).

Ovintiv Inc quarterly earnings per share for the current quarter are estimated at $1.35 with sales reaching $2.46B over the same period.The EPS is expected to shrink by -9.10% this year, but quarterly earnings will post -9.30% year-over-year. Quarterly sales are estimated to shrink -3.70% in year-over-year returns.

Ovintiv Inc (OVV) Top Institutional Holders

693 institutions hold shares in Ovintiv Inc (OVV), with institutional investors hold 82.30% of the company’s shares. The shares outstanding are 271.70M, and float is at 252.93M with Short Float at 1.88%. Institutions hold 81.89% of the Float.

The top institutional shareholder in the company is Dodge & Cox Inc with over 29.36 million shares valued at $1.12 billion. The investor’s holdings represent 10.72% of the OVV Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 26.76 million shares valued at $1.02 billion to account for 9.77% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 24.55 million shares representing 8.96% and valued at over $934.44 million, while FMR, LLC holds 8.17% of the shares totaling 22.37 million with a market value of $851.63 million.

Ovintiv Inc (OVV) Insider Activity

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 76,264 shares of the company’s common stock on Mar 14 ’24 at a price of $50.96 per share for a total of $3.89 million. Following the sale, the insider now owns 23672.0 shares.

Ovintiv Inc disclosed in a document filed with the SEC on Mar 01 ’24 that Moore Rachel Maureen (EVP, Corporate Services) sold a total of 9,300 shares of the company’s common stock. The trade occurred on Mar 01 ’24 and was made at $50.65 per share for $0.47 million. Following the transaction, the insider now directly holds 52557.0 shares of the OVV stock.

Still, SEC filings show that on Mar 01 ’24, Mayson Howard John (Director) disposed off 6,000 shares at an average price of $50.56 for $0.3 million. The insider now directly holds 36,840 shares of Ovintiv Inc (OVV).

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