In yesterday’s Wall Street session, Ovintiv Inc. (NYSE:OVV) shares traded at $48.31, up 5.83% from the previous session.
25 analysts cover Ovintiv Inc. (NYSE:OVV), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $69.00 and a low of $39.00, we find $56.00. Given the previous closing price of $45.65, this indicates a potential upside of 22.67 percent. OVV stock price is now 8.31% away from the 50-day moving average and 12.85% away from the 200-day moving average. The market capitalization of the company currently stands at $13.05B.
The stock has received a hold rating from 11 analysts and a buy rating from 12. Brokers who have rated the stock have averaged $55.11 as their price target over the next twelve months.
In other news, NANCE STEVEN W, Director sold 1,201 shares of the company’s stock on Aug 03. The stock was sold for $58,429 at an average price of $48.65. Upon completion of the transaction, the Director now directly owns 20,929 shares in the company, valued at $1.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 03, EVP, Midstream, Mrktg & Fndmtl Zemljak Renee Ellen sold 70,424 shares of the business’s stock. A total of $3,267,674 was realized by selling the stock at an average price of $46.40. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OVV stock. A new stake in Ovintiv Inc. shares was purchased by ENCAP ENERGY CAPITAL FUND XI, L.P. during the first quarter worth $710,440,000. ENCAP ENERGY CAPITAL FUND X, L.P. invested $482,880,000 in shares of OVV during the first quarter. In the first quarter, ENCAP ENERGY CAPITAL FUND IX, L.P. acquired a new stake in Ovintiv Inc. valued at approximately $341,855,000. SOURCEROCK GROUP LLC acquired a new stake in OVV for approximately $50,851,000. MEREWETHER INVESTMENT MANAGEMENT, LP purchased a new stake in OVV valued at around $25,836,000 in the second quarter. In total, there are 644 active investors with 78.20% ownership of the company’s stock.
On Tuesday morning Ovintiv Inc. (NYSE: OVV) stock kicked off with the opening price of $46.24. During the past 12 months, Ovintiv Inc. has had a low of $32.07 and a high of $59.10. As of last week, the company has a debt-to-equity ratio of 0.66, a current ratio of 0.40, and a quick ratio of 0.40. According to the stock market information, the enterprise value for the company is $19.54B, which is based on a 3.65 price-to-earnings ratio, a 0.28 price-to-earnings-growth ratio, and a beta of 2.83. The fifty day moving average price for OVV is $44.81 and a two-hundred day moving average price translates $42.77 for the stock.
The latest earnings results from Ovintiv Inc. (NYSE: OVV) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.93, beating analysts’ expectations of $0.82 by 0.11. This compares to $5.21 EPS in the same period last year. The net profit margin was 28.30% and return on equity was 42.50% for OVV. The company reported revenue of $2.52 billion for the quarter, compared to $3.74 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -32.63 percent. For the current quarter, analysts expect OVV to generate $2.48B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/29/2023. Investors who held shares on 09/15/2023 were paid a $0.30 dividend. On an annualized basis, this represents a $1.20 dividend and a 2.48% percent yield. There was an ex-dividend date of 09/14/2023 for this dividend. In terms of dividend payout ratio, OVV is presently at 7.80%.
Ovintiv Inc.(OVV) Company Profile
Ovintiv Inc., together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company’s principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta. Its other upstream assets comprise Bakken in northwest North Dakota, and Uinta in central Utah; and Horn River in northeast British Columbia, and Wheatland in southern Alberta. The company was formerly known as Encana Corporation and changed its name to Ovintiv Inc. in January 2020. Ovintiv Inc. was incorporated in 2020 and is based in Denver, Colorado.
