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Tuesday, June 6, 2023

Make Sure You Stick With Ovintiv Inc. (OVV). It’s Bull Time Again

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. After-hours trades for Ovintiv Inc. (OVV) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.13, or 0.38%, to $34.34. The Ovintiv Inc. has recorded 50,156 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed Ovintiv Reports First Quarter 2023 Financial and Operating Results.

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Stocks Info

Ovintiv Inc. is listed on the NYSE in the Energy sector while operating in the Oil & Gas E&P industry. At the end of the last regular session, the stock closed at $34.21 and fluctuated between $36.37 as its day high and $33.95 as its day low. The current market capitalization of Ovintiv Inc. is $7.88B. A total of 5.24 million shares were traded on the day, compared to an average of 3.49M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. 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 16 BUYs and 12 SELLs from insiders. Insiders purchased 98,371 shares during that period but sold 84,290.

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.


The reasons why investors prefer dividend-paying companies are that dividends generate immediate cash flow and indicate that the company will perform well in the future. Ovintiv Inc. pays an annual dividend of $1.20, resulting in a dividend yield of 3.51%, and it has a price to earnings (P/E) ratio of 2.41. OVV’s most recent ex-dividend date was 6/14/2023 when it declared a $0.30 quarterly dividend that was paid in cash on 6/30/2023. Previously, the company paid the dividend on 3/31/2023 with an ex-dividend date of 3/14/2023. The OVV stock dividend was $0.25 per share in cash.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for OVV in the last 3 months, the mean price target is $55.00 with high estimates of $69.00 and low estimates of $38.00. In terms of 52-week highs and lows, OVV has a high of $63.30 and a low of $32.26.

As of this writing, OVV has an earnings estimate of $1.84 per share for the current quarter. EPS was calculated based on a consensus of 17 estimates, with a high estimate of $2.25 per share and a lower estimate of $1.55. The company reported an EPS of $1.44 in the last quarter, which was -26.90% lower than expectations of $1.97.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information. OVV’s latest balance sheet shows that the firm has $195.00M in Cash & Short Term Investments as of fiscal 2021. There were $5.78B in debt and $2.75B in liabilities at the time. Its Book Value Per Share was $31.09, while its Total Shareholder’s Equity was $5.07B.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 0 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 Buy with a score of 4.33.

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