Ovintiv Inc. (NYSE:OVV) has a beta value of 3.91 and has seen 2,483,233 shares traded in the last trading session. The company, currently valued at $6.51 Billion, closed the last trade at $24.94 per share which meant it gained $1.01 on the day or 4.22% during that session. The OVV stock price is -15.04% off its 52-week high price of $28.69 and 86.25% above the 52-week low of $3.43. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.22 Million shares traded. The 3-month trading volume is 3.34 Million shares.
The consensus among analysts is that Ovintiv Inc. (OVV) is an Overweight stock at the moment, with a recommendation rating of 2.6. 2 analysts rate the stock as a Sell, while none rate it as Overweight. 13 out of 25 have rated it as a Hold, with 10 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.92.
Ovintiv Inc. (NYSE:OVV) trade information
Sporting 4.22% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Apr 29 when the OVV stock price touched $26.66- or saw a rise of 6.45%. Year-to-date, Ovintiv Inc. shares have moved 73.68%, while the 5-day performance has seen it change 9.96%. Over the past 30 days, the shares of Ovintiv Inc. (NYSE:OVV) have changed 0.24%. Short interest in the company has seen 8.95 Million shares shorted with days to cover at 2.68.
Wall Street analysts have a consensus price target for the stock at $30.17, which means that the shares’ value could jump 20.97% from current levels. The projected low price target is $20 while the price target rests at a high of $44. In that case, then, we find that the current price level is +76.42% off the targeted high while a plunge would see the stock lose -19.81% from current levels.
Ovintiv Inc. (OVV) estimates and forecasts
Figures show that Ovintiv Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +173.46% over the past 6 months, with this year growth rate of 934.29%, compared to -8.2% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 820% and 302.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be +4.8%.
7 analysts offering their estimates for the company have set an average revenue estimate of $2.27 Billion for the current quarter. 6 have an estimated revenue figure of $1.71 Billion for the next quarter concluding in June 01, 2021. Year-ago sales stood $2.64 Billion and $1.24 Billion respectively for this quarter and the next, and analysts expect sales will grow by -14.3% for the current quarter and 37.7% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +5.7% over the past 5 years. Earnings growth for 2021 is a modest +822.9% while over the next 5 years, the company’s earnings are expected to increase by 61.37%.
Ovintiv Inc. is expected to release its next earnings report between July 26 and July 30 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.38 at a share yield of 1.5%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 1.75%.
Ovintiv Inc. (NYSE:OVV)’s Major holders
Insiders own 1.16% of the company shares, while shares held by institutions stand at 70.03% with a share float percentage of 70.85%. Investors are also buoyed by the number of investors in a company, with Ovintiv Inc. having a total of 388 institutions that hold shares in the company. The top two institutional holders are Dodge & Cox Inc with over 32.85 Million shares worth more than $471.75 Million. As of December 30, 2020, Dodge & Cox Inc held 12.64% of shares outstanding.
The other major institutional holder is Vanguard Group Inc. (The), with the holding of over 24.51 Million shares as of December 30, 2020. The firm’s total holdings are worth over $352.03 Million and represent 9.43% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Dodge & Cox International Stock Fund and Vanguard Total Stock Market Index Fund. As of December 30, 2020, the former fund manager holds about 9.09% shares in the company for having 23619524 shares of worth $339.18 Million while later fund manager owns 7.29 Million shares of worth $104.73 Million as of December 30, 2020, which makes it owner of about 2.81% of company’s outstanding stock.