Ovintiv Inc. (NYSE: OVV) stock fell -3.46% on Friday to $46.94 against a previous-day closing price of $48.62. With 3.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.39 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $49.19 whereas the lowest price it dropped to was $45.96. The 52-week range on OVV shows that it touched its highest point at $63.30 and its lowest point at $21.92 during that stretch. It currently has a 1-year price target of $67.48. With its current market cap of 11.45 billion, OVV has annualized dividend of $1.00 while the current yield stands at 2.13%. Beta for the stock currently stands at 3.08.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OVV was down-trending over the past week, with a drop of -3.61%, but this was up by 17.47% over a month. Three-month performance dropped to -14.95% while six-month performance rose 15.11%. The stock gained 83.07% in the past year, while it has gained 39.29% so far this year. A look at the trailing 12-month EPS for OVV yields 3.20 with Next year EPS estimates of 16.58. For the next quarter, that number is 2.82. This implies an EPS growth rate of 122.60% for this year and 51.49% for next year. EPS is expected to grow by 37.64% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 24.50%.
Float and Shares Shorts:
At present, 257.40 million OVV shares are outstanding with a float of 254.79 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.58 million, which was 2.16% higher than short shares on Jun 14, 2022. In addition to Mr. Brendan Michael McCracken as the firm’s Pres, CEO & Director, Mr. Corey Douglas Code serves as its Exec. VP & CFO.
Institutional Ownership:
Through their ownership of 81.99% of OVV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.91% of OVV, in contrast to 40.77% held by mutual funds. Shares owned by individuals account for 0.50%. As the largest shareholder in OVV with 10.01% of the stake, The Vanguard Group, Inc. holds 25,847,598 shares worth 25,847,598. A second-largest stockholder of OVV, Dodge & Cox, holds 20,622,137 shares, controlling over 7.99% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in OVV, holding 17,481,608 shares or 6.77% stake. With a 4.46% stake in OVV, the Dodge & Cox International Stock F is the largest stakeholder. A total of 11,499,924 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.95% of OVV stock, is the second-largest Mutual Fund holder. It holds 7,613,982 shares valued at 336.46 million. Vanguard Small Cap Index Fund holds 2.53% of the stake in OVV, owning 6,523,669 shares worth 288.28 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OVV since 24 analysts follow the stock currently. There are 19 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With OVV analysts setting a high price target of $100.00 and a low target of $51.00, the average target price over the next 12 months is $67.17. Based on these targets, OVV could surge 113.04% to reach the target high and rise by 8.65% to reach the target low. Reaching the average price target will result in a growth of 43.1% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. OVV will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of $15.65 being high and $6.31 being low. For OVV, this leads to a yearly average estimate of $10.84. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Ovintiv Inc. surprised analysts by -$0.32 when it reported $2.17 EPS against a consensus estimate of $2.49. The surprise factor in the prior quarter was -$0.34. Based on analyst estimates, the high estimate for the next quarter is $3.88 and the low estimate is $2.09. The average estimate for the next quarter is thus $2.76.
Summary of Insider Activity:
Insiders traded OVV stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.
