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Tuesday, March 21, 2023

Analyst Expects Ovintiv Inc. (NYSE: OVV) To Make Big Moves

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for Ovintiv Inc. (OVV) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.30, or 0.77%, to $39.48. The Ovintiv Inc. has recorded 95,919 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed Ovintiv Reports Fourth Quarter and Year-end 2022 Financial and Operating Results.

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Stocks Info

As a NYSE listed company, OVV falls under the Energy sector while operating within the Oil & Gas E&P industry segment. At the end of the last regular session, the stock closed at $39.18 and fluctuated between $40.92 as its day high and $38.69 as its day low. The current market capitalization of Ovintiv Inc. is $9.91B. A total of 4.65 million shares were traded on the day, compared to an average of 3.14M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, OVV has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 36 BUYs and 15 SELLs from insiders. Insiders purchased 99,455 shares during that period but sold 96,490.

In the most recent transaction, Zemljak Renee Ellen sold 70,424 shares of OVV for 46.40 per share on Mar 03. After the transaction, the EVP, Midstream, Mrktg & Fndmtl now owns 0 company shares. In a previous transaction on Mar 02, Mayson Howard John sold 3,000 shares at 45.62 per share. OVV shares that Director owns now total 21,403.

Among the insiders who sold shares, Zemljak Renee Ellen disposed of 610 shares on Nov 23 at a per-share price of $55.12. This resulted in the EVP, Midstream, Mrktg & Fndmtl holding 71,814 shares of OVV after the transaction. In another insider transaction, Mayson Howard John sold 2,600 shares at $56.21 per share on Nov 14. Company shares held by the Director now total 0.


Investors prefer companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook. Ovintiv Inc. pays an annual dividend of $1.00, resulting in a dividend yield of 2.55%, and it has a price to earnings (P/E) ratio of 2.76. OVV’s most recent ex-dividend date was 3/14/2023 when it declared a $0.25 quarterly dividend that was paid in cash on 3/31/2023. Previously, the company paid the dividend on 12/30/2022 with an ex-dividend date of 12/14/2022. The OVV stock dividend was $0.25 per share in cash.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for OVV in the last 3 months, the mean price target is $62.24 with high estimates of $79.00 and low estimates of $50.00. In terms of 52-week highs and lows, OVV has a high of $63.30 and a low of $37.27.

As of this writing, OVV has an earnings estimate of $1.91 per share for the current quarter. EPS was calculated based on a consensus of 19 estimates, with a high estimate of $2.77 per share and a lower estimate of $1.48. The company reported an EPS of $2.41 in the last quarter, which was -14.50% lower than expectations of $2.82.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 27 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for OVV is Sell with a score of 4.56. A total of 17 analysts rated the stock as Buy while 3 rated it as Overweight while 7 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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