Ovintiv Inc (NYSE: OVV) is 4.77% higher on its value in year-to-date trading and has touched a low of $36.90 and a high of $55.95 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 $41.87 in the last trading session, with the day’s gains setting it 0.56%.
Currently trading at $42.43, the stock is 5.90% and 1.70% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.89 million and changing 1.34% at the moment leaves the stock -5.91% off its SMA200. OVV registered -0.09% loss for a year compared to 6-month loss of -10.37%. The firm has a 50-day simple moving average (SMA 50) of $41.722 and a 200-day simple moving average (SMA200) of $45.09505.
The stock witnessed a 2.99% gain in the last 1 month and extending the period to 3 months gives it a 1.41%, and is 4.77% 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 2.41% over the week and 2.52% over the month.
Ovintiv Inc (OVV) has around 1743 employees, a market worth around $11.05B and $9.74B in sales. Current P/E ratio is 5.63 and Fwd P/E is 9.30. Profit margin for the company is 20.96%. Distance from 52-week low is 14.97% and -24.16% from its 52-week high. The company has generated returns on investments over the last 12 months (12.51%).
The EPS is expected to shrink by -21.48% this year
756.0 institutions hold shares in Ovintiv Inc (OVV), with institutional investors hold 84.41% of the company’s shares. The shares outstanding are 260.40M, and float is at 259.10M with Short Float at 1.58%. Institutions hold 83.99% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 29.97 million shares valued at $1.4 billion. The investor’s holdings represent 11.1116 of the OVV Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 28.03 million shares valued at $1.31 billion to account for 10.3933 of the shares outstanding. The other top investors are FMR LLC which holds 22.07 million shares representing 8.1839 and valued at over $1.03 billion, while STATE STREET CORP holds 3.9428 of the shares totaling 10.63 million with a market value of $498.4 million.
Ovintiv Inc (OVV) Insider Activity
The most recent transaction is an insider sale by Mayson Howard John, the company’s Director. SEC filings show that Mayson Howard John sold 4,000 shares of the company’s common stock on May 31 ’24 at a price of $51.14 per share for a total of $0.2 million. Following the sale, the insider now owns 45279.0 shares.
Ovintiv Inc disclosed in a document filed with the SEC on May 13 ’24 that NANCE STEVEN W (Director) sold a total of 12,000 shares of the company’s common stock. The trade occurred on May 13 ’24 and was made at $50.00 per share for $0.6 million. Following the transaction, the insider now directly holds 8929.0 shares of the OVV stock.
Still, SEC filings show that on May 14 ’24, Chhina Sippy (Director) acquired 1,600 shares at an average price of $49.50 for $79200.0. The insider now directly holds 1,600 shares of Ovintiv Inc (OVV).
