Ovintiv Inc. (NYSE:OVV) has a beta value of 2.86 and has seen 0.95 million shares traded in the recent trading session. The company, currently valued at $13.91B, closed the recent trade at $54.80 per share which meant it lost -$1.02 on the day or -1.83% during that session. The OVV stock price is -15.51% off its 52-week high price of $63.30 and 46.13% above the 52-week low of $29.52. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.24 million shares traded. The 3-month trading volume is 3.67 million shares.
The consensus among analysts is that Ovintiv Inc. (OVV) is a Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 3 out of 24 have rated it as a Hold, with 19 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $1.97.
Ovintiv Inc. (NYSE:OVV) trade information
Sporting -1.83% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 11/22/22 when the OVV stock price touched $54.80 or saw a rise of 2.11%. Year-to-date, Ovintiv Inc. shares have moved 65.64%, while the 5-day performance has seen it change -4.55%. Over the past 30 days, the shares of Ovintiv Inc. (NYSE:OVV) have changed 12.31%. Short interest in the company has seen 6.79 million shares shorted with days to cover at 1.7.
Wall Street analysts have a consensus price target for the stock at $67.91, which means that the shares’ value could jump 19.3% from the levels at last check today. The projected low price target is $58.00 while the price target rests at a high of $79.00. In that case, then, we find that the latest price level in today’s session is -44.16% off the targeted high while a plunge would see the stock gain -5.84% from the levels at last check today.
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 14.10% over the past 6 months, with this year growth rate of 78.78%, compared to 23.60% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 31.30% and 76.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be 28.40%.
6 analysts offering their estimates for the company have set an average revenue estimate of $2.65 billion for the current quarter. 6 have an estimated revenue figure of $2.68 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $1.93 billion and $3.34 billion respectively for this quarter and the next, and analysts expect sales will grow by 37.60% for the current quarter and -19.70% 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 24.50% over the past 5 years. Earnings growth for 2022 is a modest 122.60% while over the next 5 years, the company’s earnings are expected to increase by 52.54%.
Ovintiv Inc. is expected to release its next earnings report between February 22 and February 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.00 at a share yield of 1.79%. The company’s dividend yield has gone up over the past 12 months.
Ovintiv Inc. (NYSE:OVV)’s Major holders
Insiders own 0.43% of the company shares, while shares held by institutions stand at 80.90% with a share float percentage of 81.25%. Investors are also buoyed by the number of investors in a company, with Ovintiv Inc. having a total of 601 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 24.61 million shares worth more than $1.09 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 9.82% of shares outstanding.
The other major institutional holder is Dodge & Cox Inc, with the holding of over 22.25 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $983.13 million and represent 8.88% 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 Sep 29, 2022, the former fund manager holds about 4.59% shares in the company for having 11.5 million shares of worth $529.0 million while later fund manager owns 7.59 million shares of worth $335.56 million as of Jun 29, 2022, which makes it owner of about 3.03% of company’s outstanding stock.