The price of Ovintiv Inc (NYSE:OVV) shares last traded on Wall Street fell -2.59% to $41.31.
Based on available information, 26 analysts follow Ovintiv Inc (NYSE:OVV). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $70.00 and a low of $42.00, we find $57.00. Given the previous closing price of $42.41, this indicates a potential upside of 34.4 percent. OVV stock price is now -11.53% away from the 50-day moving average and -1.33% away from the 200-day moving average. The market capitalization of the company currently stands at $11.27B.
Among analysts, 9 rate the stock a hold while 14 rate it a buy. Brokers who have rated the stock have averaged $57.36 as their price target over the next twelve months.
With the price target reduced from $61 to $58, JP Morgan Upgraded its rating from Neutral to Overweight for Ovintiv Inc (NYSE: OVV).
In other news, NANCE STEVEN W, Director sold 13,000 shares of the company’s stock on Nov 29. The stock was sold for $569,140 at an average price of $43.78. Upon completion of the transaction, the Director now directly owns 24,193 shares in the company, valued at $1.0 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 03, Director NANCE STEVEN W sold 1,201 shares of the business’s stock. A total of $58,429 was realized by selling the stock at an average price of $48.65. This leaves the insider owning 20,929 shares of the company worth $0.86 million. A total of 9.28% of the company’s stock is owned by insiders.
A candlestick chart of Ovintiv Inc (NYSE: OVV) showed a price of $42.45 on Wednesday morning. During the past 12 months, Ovintiv Inc has had a low of $32.07 and a high of $52.63. As of last week, the company has a debt-to-equity ratio of 0.74, a current ratio of 0.45, and a quick ratio of 0.45. According to the stock market information, the enterprise value for the company is $18.30B, which is based on a 4.10 price-to-earnings ratio, a 0.31 price-to-earnings-growth ratio, and a beta of 2.68. The fifty day moving average price for OVV is $46.69 and a two-hundred day moving average price translates $41.87 for the stock.
The latest earnings results from Ovintiv Inc (NYSE: OVV) was released for Sep, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $1.74, missing analysts’ expectations of $1.75 by -0.01. This compares to $4.63 EPS in the same period last year. The net profit margin was 23.06% and return on equity was 31.85% for OVV. The company reported revenue of $2.65 billion for the quarter, compared to $3.55 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -25.36 percent. For the current quarter, analysts expect OVV to generate $2.98B in revenue.
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.
