In the latest trading session, 0.95 million Ovintiv Inc. (NYSE:OVV) shares changed hands as the company’s beta touched 3.95. With the company’s most recent per share price at $29.86 changing hands around $1.21 or 4.22% at last look, the market valuation stands at $7.34B. OVV’s current price is a discount, trading about -12.06% off its 52-week high of $33.46. The share price had its 52-week low at $6.81, which suggests the last value was 77.19% up since then. When we look at Ovintiv Inc.’s average trading volume, we note the 3-month average coming to 2.66 million.
Analysts gave the Ovintiv Inc. (OVV) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 1 out of 27 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 7 recommended OVV as a Hold, 19 felt it is a Buy and 0 rated the stock as Underweight. Ovintiv Inc.’s EPS for the current quarter is expected to be $1.53.
Ovintiv Inc. (NYSE:OVV) trade information
Instantly OVV is in green as seen in intraday trades today. With action 1.02%, the performance over the past five days has been green. The jump to weekly highs of 30.33 on Tuesday, 09/14/21 added 4.22% to the stock’s daily price. The company’s shares are showing year-to-date upside of 99.51%, with the 5-day performance at 1.02% in the green. However, in the 30-day time frame, Ovintiv Inc. (NYSE:OVV) is 18.10% up.
The consensus price target for the stock as assigned by Wall Street analysts is $39.46, meaning bulls need an upside of 24.33% from its recent market value. According to analyst projections, OVV’s forecast low is $25.00 with $54.00 as the target high. To hit the forecast high, the stock’s price needs a -80.84% plunge from its current level, while the stock would need to tank 16.28% for it to hit the projected low.
Ovintiv Inc. (OVV) estimates and forecasts
Data shows that the Ovintiv Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 7.26% over the past 6 months, a 1,308.57% in annual growth rate that is considerably higher than the industry average of -21.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Ovintiv Inc. will rise 5,200.00%, while the growth in revenue is estimated to hit 115.70% for the next quarter. Year-over-year growth is forecast to reach 19.20% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $1.92 billion. 8 analysts are of the opinion that Ovintiv Inc.’s revenue for the quarter ending Dec 2021 will be $1.88 billion. The company’s revenue for the corresponding quarters a year ago was $1.26 billion and $1.53 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 52.50%. The estimates for the next quarter sales put growth at 22.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 5.70%. The 2021 estimates are for Ovintiv Inc. earnings to increase by 1354.30%.
Ovintiv Inc. is expected to release its next quarterly earnings report between October 26 and November 01. The 1.95% annual yield figure for the share gives it an annual dividend of 0.56. It is important to note, however, that the 1.95% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Ovintiv Inc. (NYSE:OVV)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.05% of Ovintiv Inc. shares while 74.07% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 74.86%. There are 74.07% institutions holding the Ovintiv Inc. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Jun 29, 2021, the company held 10.42% of the shares, roughly 27.2 million OVV shares worth $856.12 million.
Dodge & Cox Inc holds the second largest percentage of outstanding shares, with 9.01% or 23.51 million shares worth $739.93 million as of Jun 29, 2021.
Among Mutual Funds, the top two as of Jun 29, 2021 were Dodge & Cox International Stock Fund and Vanguard Total Stock Market Index Fund. With 14.8 million shares estimated at $465.87 million under it, the former controlled 5.67% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.83% of the shares, roughly 7.38 million shares worth around $232.27 million.