Ovintiv Inc. (NYSE:OVV) Relative Strength Index (RSI) is 74.25, with weekly volatility at 8.48% and ATR at 0.66. The OVV stock’s 52-week price range has touched low of $2.10 and a $34.13 high. Intraday shares traded counted 3.74 million, which was 65.65% higher than its 30-day average trading volume of 10.90M. Its shares traded higher over the last trading session, gaining 0.37% on 05/21/20. The shares fell to a low of $7.615 before closing at $8.24. OVV’s previous close was $8.21 while the outstanding shares total 259.76M. The firm has a beta of 3.95, a 12-month trailing P/E ratio of 10.89,.
Investors have identified the Oil & Gas E&P company Ovintiv Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $2.13 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Ovintiv Inc. (OVV) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. In terms of their assets, the company currently has 1869000000 million total, with 2432000000 million as their total liabilities.
OVV were able to record 295.0 million as free cash flow during the third quarter of the year, this saw their quarterly net cash flow reduce by -868.0 million. In cash movements, the company had a total of 2.92 billion as operating cash flow.
Potential earnings growth for Ovintiv Inc. (OVV)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the third quarter of the year, Ovintiv Inc. recorded a total of 1.56 billion in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -52.14% coming in sequential stages and their sales for the third quarter reducing by -19.55%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 923.0 million trying to sell their products during the last quarter, with the result yielding a gross income of 642.0 million. This allows shareholders to hold on to 259.76M with the revenue now reading 0.15 cents per share. This is a figure that is close to analyst’s prediction for their fourth quarter (0.18 cents a share).
Having a look at the company’s valuation, the company is expected to record 3.29 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on OVV sounds very interesting.
Is the stock of OVV attractive?
In the last 6 months, insiders have changed their ownership in shares of company stock by 0.10%.
5 out of 31 analysts covering the stock have rated it a Buy, while 20 have maintained a Hold recommendation on Ovintiv Inc.. 4 analysts has assigned a Sell rating on the OVV stock. The 12-month mean consensus price target for the company’s shares has been set at $10.26.