The stock of Ovintiv Inc (NYSE:OVV) last traded at $50.46, down -0.81% from the previous session.
OVV stock price is now 13.56% away from the 50-day moving average and 14.27% away from the 200-day moving average. The market capitalization of the company currently stands at $13.60B.
With the price target reduced from $61 to $58, JP Morgan Upgraded its rating from Neutral to Overweight for Ovintiv Inc (NYSE: OVV). On November 22, 2023, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $48 to quote $52, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’
In other news, Zemljak Renee Ellen, EVP, Midstream, Mrktg & Fndmtl sold 76,264 shares of the company’s stock on Mar 14 ’24. The stock was sold for $3,886,413 at an average price of $50.96. Upon completion of the transaction, the EVP, Midstream, Mrktg & Fndmtl now directly owns 23,672 shares in the company, valued at $1.19 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01 ’24, EVP, Corporate Services Moore Rachel Maureen sold 9,300 shares of the business’s stock. A total of $471,045 was realized by selling the stock at an average price of $50.65. This leaves the insider owning 52,557 shares of the company worth $2.65 million. A total of 5.98% of the company’s stock is owned by insiders.
During the past 12 months, Ovintiv Inc has had a low of $32.07 and a high of $51.91. As of last week, the company has a debt-to-equity ratio of 0.64, a current ratio of 0.60, and a quick ratio of 0.60. According to the stock market information, the enterprise value for the company is $20.28B, which is based on a 6.40 price-to-earnings ratio, a 0.49 price-to-earnings-growth ratio, and a beta of 2.67. The fifty day moving average price for OVV is $44.55 and a two-hundred day moving average price translates $44.25 for the stock.
The latest earnings results from Ovintiv Inc (NYSE: OVV) was released for Dec, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $2.35, beating analysts’ expectations of $1.95 by 0.4. This compares to $5.18 EPS in the same period last year. The net profit margin was 19.44% and return on equity was 23.09% for OVV. The company reported revenue of $3.17 billion for the quarter, compared to $3.21 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.43 percent. For the current quarter, analysts expect OVV to generate $2.48B in revenue.
