Is Ovintiv Inc. (NYSE:OVV), -1.6% Away From High, Poised For A Strong Comeback? – Marketing Sentinel
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Is Ovintiv Inc. (NYSE:OVV), -1.6% Away From High, Poised For A Strong Comeback?

In recent trading session, Ovintiv Inc. (NYSE:OVV) saw 0.6 million shares changing hands at last check today with its beta currently measuring 3.56. Company’s recent per share price level of $40.01 trading at $1.28 or 3.29% at last check today assigns it a market valuation of $10.17B. That most recent trading price of OVV’s stock is at a discount of -1.6% from its 52-week high price of $40.65 and is indicating a premium of 61.23% from its 52-week low price of $15.51. Taking a look at company’s average trading volume of 2.91 million if we extend that period to 3-months.

Ovintiv Inc. (NYSE:OVV) trade information

Upright in the green today for gaining 3.29%, in the last five days OVV remained trading in the green while hitting it’s week-highest on Wednesday, 01/12/22 when the stock touched $40.01 price level, adding 0.32% to its value on the day. Ovintiv Inc.’s shares saw a change of 14.93% in year-to-date performance and have moved 1.81% in past 5-day. Ovintiv Inc. (NYSE:OVV) showed a performance of 20.54% in past 30-days.

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Ovintiv Inc. (OVV) estimates and forecasts

Statistics highlight that Ovintiv Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 48.45% of value to its shares in past 6 months, showing an annual growth rate of 1,462.86% while that of industry is -1.60. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 172.90% in the current quarter and calculating 101.80% increase in the next quarter. This year revenue growth is estimated to rise 23.50% from the last financial year’s standing.

9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $2.05 billion for the same. And 8 analysts are in estimates of company making revenue of $2.09 billion in the next quarter that will end on Mar 2022. Company posted $1.53 billion and $1.63 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 34.50% while estimating it to be 28.80% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 5.70% during past 5 years.

OVV Dividends

Ovintiv Inc. is more likely to be releasing its next quarterly report between February 15 and February 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Ovintiv Inc. (NYSE:OVV)’s Major holders

Insiders are in possession of 0.93% of company’s total shares while institution are holding 74.42 percent of that, with stock having share float percentage of 75.12%. Investors also watch the number of corporate investors in a company very closely, which is 74.42% institutions for Ovintiv Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at OVV for having 27.25 million shares of worth $896.04 million. And as of Sep 29, 2021, it was holding 10.47% of the company’s outstanding shares.

The second largest institutional holder is Dodge & Cox Inc, which was holding about 22.47 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 8.63% of outstanding shares, having a total worth of $738.89 million.

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On the other hand, Dodge & Cox International Stock Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 13.83 million shares of worth $454.83 million or 5.31% of the total outstanding shares. The later fund manager was in possession of 7.42 million shares on Sep 29, 2021, making its stake of worth around $244.07 million in the company or a holder of 2.85% of company’s stock.

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