Should Ovintiv Inc. (NYSE: OVV) Revive After A -27.94% Drop From Highs? – Marketing Sentinel
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Should Ovintiv Inc. (NYSE: OVV) Revive After A -27.94% Drop From Highs?

During the recent session, Ovintiv Inc. (NYSE:OVV)’s traded shares were 1.95 million, with the beta value of the company hitting 3.19. At the last check today, the stock’s price was $45.02, reflecting an intraday gain of 6.18% or $2.62. The 52-week high for the OVV share is $57.60, that puts it down -27.94 from that peak though still a striking 51.31% gain since the share price plummeted to a 52-week low of $21.92. The company’s market capitalization is $10.87B, and the average trade volume was 4.76 million shares over the past three months.

Ovintiv Inc. (NYSE:OVV) trade information

Ovintiv Inc. (OVV) registered a 6.18% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 6.18% in intraday trading to $45.02 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -23.09%, and it has moved by -17.53% in 30 days. Based on these gigs, the overall price performance for the year is 69.80%.

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Ovintiv Inc. (OVV) estimates and forecasts

Statistics show that Ovintiv Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Ovintiv Inc. (OVV) shares have gone up 21.04% during the last six months, with a year-to-date growth rate more than the industry average at 90.20% against -3.90. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 175.70% this quarter and then jump 100.00% in the quarter after that. In the rating firms’ projections, revenue will increase 24.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.07 billion as predicted by 9 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $2.09 billion by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.53 billion and $1.63 billion respectively. In this case, analysts expect current quarter sales to grow by 35.50% and then jump by 28.70% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 24.50%. While earnings are projected to return 122.60% in 2022, the next five years will return 37.28% per annum.

OVV Dividends

Ovintiv Inc. is due to release its next quarterly earnings between April 26 and May 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Ovintiv Inc. is 0.80, with the dividend yield indicating at 1.89 percent, continuing the trend of increasing dividends in recent years.

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

Ovintiv Inc. insiders own 0.93% of total outstanding shares while institutional holders control 74.35%, with the float percentage being 75.05%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 499 institutions own stock in it. As of Sep 29, 2021, the company held over 27.25 million shares (or 10.47% of all shares), a total value of $896.04 million in shares.

The next largest institutional holding, with 22.47 million shares, is of Dodge & Cox Inc’s that is approximately 8.63% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $738.89 million.

Also, the Mutual Funds coming in first place with the largest holdings of Ovintiv Inc. (OVV) shares are Dodge & Cox International Stock Fund and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2021 indicates that Dodge & Cox International Stock Fund owns about 13.83 million shares. This amounts to just over 5.31 percent of the company’s overall shares, with a $454.83 million market value. The same data shows that the other fund manager holds slightly less at 7.42 million, or about 2.85% of the stock, which is worth about $244.07 million.

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