On Monday, shares of Ovintiv Inc. (NYSE:OVV) marked $9.13 per share versus a previous $9.97 closing price. With having a -8.43% loss, an insight into the fundamental values of Ovintiv Inc., investors would also find a great ally in the technical patterns of the stock movements showed in stock charts. OVV showed a fall of -61.07% within its YTD performance, with highs and lows between $2.10 – $25.00 during the period of 52 weeks, compared to the simple moving average of -5.29% in the period of the last 200 days.
CIBC equity researchers changed the status of Ovintiv Inc. (NYSE: OVV) shares to a “Sector Underperform” rating in the report published on October 26th, 2020. Other analysts, including Credit Suisse, also published their reports on OVV shares. Credit Suisse repeated the rating from the previous report, marking OVV under “Neutral” rating, in the report published on August 5th, 2020. Additionally, OVV shares got another “Peer Perform” rating from Wolfe Research. On June 29th, 2020, BMO Capital Markets Upgrade an Outperform rating and increased its price target to $13. On the other hand, Mizuho Upgrade the “Neutral” rating for OVV shares, as published in the report on June 19th, 2020. BofA/Merrill seems to be going bullish on the price of OVV shares, based on the price prediction for OVV, indicating that the shares will jump to $8, giving the shares “Buy” rating based on their report from May 14th, 2020. Another “Hold” rating came from TD Securities.
[bold-text]Ovintiv Inc. (OVV) Analysis[/bold-text]
The present dividend yield for OVV owners is set at 0.04, marking the return investors will get regardless of the company’s performance in the upcoming period. In addition, the growth of sales from quarter to quarter is recording -64.70%, hinting the company’s progress in the upcoming progress.
In order to gain a clear insight on the performance of Ovintiv Inc. (OVV) as it may occur in the future, there are more than several well-rounded types of analysis and research techniques, while equity is most certainly one of the more important indicators into the company’s growth and performance. In this case, you want to make sure that the return on the present equity of -42.50% is enough for you to make a profit out of your investment. You may also count in the quick ratio of the company, currently set at 0.90 so you would make sure that the company is able to cover the debts it may have, which can be easily seen in annual reports of the company.
Set to affect the volatility of a given stock, the average volume can also be a valuable indicator, while OVV is currently recording an average of 4.28M in volumes. The volatility of the stock on monthly basis is set at 6.99%, while the weekly volatility levels are marked at 5.43%with -1.62% of loss in the last seven days. Additionally, long-term investors are predicting the target price of $16.41, indicating growth from the present price of $9.13, which can represent yet another valuable research and analysis points that can help you decide whether to invest in OVV or pass.
[bold-text]What to Look for When Analyzing Ovintiv Inc. Shares?[/bold-text]
Ovintiv Inc. (OVV) is based in the USA and it represents one of the well-known company operating with Energy sector. If you wish to compare OVV shares with other companies under Electronic Equipment and Consumer Goods, a factor to note is the P/E value of for Ovintiv Inc., while the value 24.54 can represent an indicator in the future growth of the company in terms of investor’s expectations. The later value should have a steady growth rate, increasing and growing gradually, which serves the purpose of reliably showcasing the progress of the company. The value -12.51 is supported by the yearly EPS growth of -83.90%.
Besides from looking into the fundamentals, you should also note the number of people inside the company owning the shares, as the values should be in line with the expectations of investors. In that spirit, the present ownership of stocks inside the company is set at 0.83%, which can provide you with an insight of how involved executives are in owning shares of the company. In oppose to the executives’ share, the institutional ownership counts 73.70% of shares, carrying an equal significance as an indicator of value, as the presence of large investors may signal a strong company.
[bold-text]Are Institutional Investors Increasing Stakes in OVV Shares?[/bold-text]
It appears that more than several institutional investors and hedge funds decided to increase stakes in OVV in the recent period. That is how The Vanguard Group, Inc. now has an increase position in OVV by 26,438.78% in the first quarter, owning 24.25 million shares of OVV stocks, with the value of $197.85 million after the purchase of an additional 24,154,736 shares during the last quarter. In the meanwhile, BlackRock Fund Advisors also increased their stake in OVV shares changed 1,416.46% in the first quarter, which means that the company now owns 16.8 million shares of company, all valued at $137.06 million after the acquisition of additional 15,688,803 shares during the last quarter.
T. Rowe Price Associates, Inc. acquired a new position in Ovintiv Inc. during the first quarter, with the value of $126.47 million, and Arrowstreet Capital LP increased their stake in the company’s shares by — in the first quarter, now owning 5,889,960 shares valued at $48.06 million after the acquisition of the additional 5.89 million shares during the last quarter. In the end, SSgA Funds Management, Inc. increased their position by 879.15% during the first quarter, now owning 4.88 million OVV shares, now holding the value of $39.84 million in OVV with the purchase of the additional 4,362,154 shares during the period of the last quarter. At the present, 73.70% of OVV shares are in the ownership of institutional investors.