A Stock You Ought To Watch Is Ovintiv Inc. (NYSE: OVV) – Marketing Sentinel
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A Stock You Ought To Watch Is Ovintiv Inc. (NYSE: OVV)

During the last session, Ovintiv Inc. (NYSE:OVV)’s traded shares were 5.8 million, with the beta value of the company hitting 2.97. At the end of the trading day, the stock’s price was $46.02, reflecting an intraday loss of -8.93% or -$4.51. The 52-week high for the OVV share is $63.30, that puts it down -37.55 from that peak though still a striking 52.37% gain since the share price plummeted to a 52-week low of $21.92. The company’s market capitalization is $12.78B, and the average intraday trading volume over the past 10 days was 4.93 million shares, and the average trade volume was 4.74 million shares over the past three months.

Ovintiv Inc. (OVV) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.10. OVV has a Sell rating from 0 analyst(s) out of 26 analysts who have looked at this stock. 5 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 19 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $2.34.

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Ovintiv Inc. (NYSE:OVV) trade information

Ovintiv Inc. (OVV) registered a -8.93% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -8.93% in intraday trading to $46.02 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -17.60%, and it has moved by -2.50% in 30 days. Based on these gigs, the overall price performance for the year is 50.00%. The short interest in Ovintiv Inc. (NYSE:OVV) is 7.85 million shares and it means that shorts have 1.93 day(s) to cover.

The consensus price target of analysts on Wall Street is $70.44, which implies an increase of 34.67% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $50.00 and $106.00 respectively. As a result, OVV is trading at a discount of -130.33% off the target high and -8.65% off the low.

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 48.50% during the last six months, with a year-to-date growth rate more than the industry average at 92.86% against 13.50. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 112.70% this quarter and then jump 149.50% in the quarter after that. In the rating firms’ projections, revenue will increase 17.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.14 billion as predicted by 7 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $2.5 billion by the end of Jun 2022.

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 1.00, with the dividend yield indicating at 2.17 percent, continuing the trend of increasing dividends in recent years.

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

Ovintiv Inc. insiders own 0.40% of total outstanding shares while institutional holders control 77.80%, with the float percentage being 78.11%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 550 institutions own stock in it. As of Dec 30, 2021, the company held over 27.41 million shares (or 10.60% of all shares), a total value of $923.63 million in shares.

The next largest institutional holding, with 23.23 million shares, is of Blackrock Inc.’s that is approximately 8.98% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $1.26 billion.

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 Dec 30, 2021 indicates that Dodge & Cox International Stock Fund owns about 12.95 million shares. This amounts to just over 5.01 percent of the company’s overall shares, with a $436.25 million market value. The same data shows that the other fund manager holds slightly less at 7.42 million, or about 2.87% of the stock, which is worth about $250.12 million.

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