In the last trading session, 7.01 million Ovintiv Inc. (NYSE:OVV) shares changed hands as the company’s beta touched 2.82. With the company’s per share price at $47.32 changed hands at -$0.86 or -1.78% during last session, the market valuation stood at $13.19B. OVV’s last price was a discount, traded about -24.89% off its 52-week high of $59.10. The share price had its 52-week low at $32.07, which suggests the last value was 32.23% up since then. When we look at Ovintiv Inc.’s average trading volume, we note the 10-day average is 4.81 million shares, with the 3-month average coming to 3.84 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 0 out of 25 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 11 recommended OVV as a Hold, 12 felt it is a Buy and 0 rated the stock as Underweight. Ovintiv Inc.’s EPS for the current quarter is expected to be $Ovintiv Inc. (DE).

Ovintiv Inc. (NYSE:OVV) trade information

Instantly OVV was in red as seen at the end of in last trading. The drop to weekly highs of 48.79 on Friday, 09/15/23 subtracted -1.78% to the stock’s daily price. The company’s shares are showing year-to-date downside of -6.69%. However, in the 30-day time frame, Ovintiv Inc. (NYSE:OVV) is -0.08% down. Looking at the short shares, we see there were 12.37 million shares sold at short interest cover period of 4.91 days.

The consensus price target for the stock as assigned by Wall Street analysts is $55.11, meaning bulls need an upside of 14.14% from its current market value. According to analyst projections, OVV’s forecast low is $39.00 with $69.00 as the target high. To hit the forecast high, the stock’s price needs a -45.82% plunge from its current level, while the stock would need to tank 17.58% 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 34.81% over the past 6 months, a -10.66% in annual growth rate that is considerably higher than the industry average of -29.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 18.90%. The 2023 estimates are for Ovintiv Inc. earnings to increase by 164.80%, but the outlook for the next 5-year period is at 13.10% per year.

OVV Dividends

Ovintiv Inc. is expected to release its next quarterly earnings report in October. The 2.54% annual yield figure for the share gives it an annual dividend of 1.20. It is important to note, however, that the 2.54% 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 0.45% of Ovintiv Inc. shares while 81.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 81.43%. There are 81.06% institutions holding the Ovintiv Inc. stock share, with Dodge & Cox Inc the top institutional holder. As of Jun 29, 2023, the company held 10.72% of the shares, roughly 29.36 million OVV shares worth $1.12 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.77% or 26.76 million shares worth $1.02 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Dodge & Cox International Stock Fund and iShares Core S&P Midcap ETF. With 15.51 million shares estimated at $590.51 million under it, the former controlled 5.66% of total outstanding shares. On the other hand, iShares Core S&P Midcap ETF held about 2.88% of the shares, roughly 7.88 million shares worth around $370.23 million.