The trading price of Ovintiv Inc. (NYSE:OVV) floating lower at last check on Wednesday, June 22, closing at $47.29, -6.41% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $47.78 and $50.62. The company’s P/E ratio in the trailing 12-month period was 15.78, while its 5Y monthly beta was 4.17. In examining the 52-week price action we see that the stock hit a 52-week high of $63.30 and a 52-week low of $21.92. Over the past month, the stock has gained 9.07% in value.
Ovintiv Inc., whose market valuation is $14.03 billion at the time of this writing, is expected to release its quarterly earnings report Jul 25, 2022 – Jul 29, 2022. The dividend yield on the company stock is 1.98%, while its Forward Dividend ratio is 1.00. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $2.89 per share this quarter, however they have predicted annual earnings per share of $11.16 for 2022 and $15.54 for 2023. It means analysts are expecting annual earnings per share growth of 127.80% this year and 39.20% next year.
Analysts have forecast the company to bring in revenue of $2.64 billion for the current quarter, with the likely lows of $1.95 billion and highs of $3.44 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $10.5 billion. The company’s revenue is forecast to grow by 21.20% over what it did in 2022.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Ovintiv Inc. 2 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest OVV has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0.42, which symbolizes a positive outlook. A quick review shows that OVV’s price is currently -14.48% off the SMA20 and -9.48% off the SMA50. The RSI metric on the 14-day chart is currently showing 39.33, and weekly volatility stands at 7.62%. When measured over the past 30 days, the indicator reaches 5.52%. Ovintiv Inc. (NYSE:OVV)’s beta value is currently sitting at 2.97, while the Average True Range indicator is currently displaying 3.32.
To see how Ovintiv Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: OVV stock’s performance was -6.41% at last check in today’s session, and 66.33% in the past year. Ovintiv Inc. has a P/E ratio of 15.78. Also during today’s trading, the S&P 500 Index has surged 0.58%, while the Dow Jones Industrial also saw a positive session, up 0.33% today.
An evaluation of the daily trading volume of Ovintiv Inc. (NYSE:OVV) indicates that the 3-month average is 4.74 million. However, this figure has increased over the past 10 days to an average of 4.93 million.
Currently, records show that 257.40 million of the company’s shares remain outstanding. The insiders hold 0.20% of outstanding shares, whereas institutions hold 81.40%. The stats also highlight that short interest as of May 30, 2022, stood at 9.39 million shares, resulting in a short ratio of 1.69 at that time. From this, we can conclude that short interest is 3.64% of the company’s total outstanding shares. It is noteworthy that short shares in May were up slightly from the previous month’s figure, which was 7.85 million. However, since the stock’s price has seen 49.94% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.