BofA Securities lowered the price target for the Ovintiv Inc. (NYSE:OVV) stock from “a Neutral” to “a Buy”. The rating was released on July 19, 2022, according to finviz. We previously noted in another research note published on June 28, 2022 by JP Morgan that upgraded the stock from a Neutral to an Overweight with a price target of $64 for OVV stock. The research report from CapitalOne has upgraded the stock from Equal Weight to Overweight, with a price target set at $82. The stock was downgraded by BofA Securities, who disclosed in a research note on March 08, 2022, from Buy to Neutral and set the price objective to $73. In their research brief published February 28, 2022, RBC Capital Mkts analysts upgraded the Ovintiv Inc. stock from Sector Perform to Outperform with a price target of $50.
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The latest trade, Performances and Moving Averages give us the following Picture
The share price of Ovintiv Inc. (NYSE:OVV) dipped -2.46% to close Thursday’s market session at $46.79, lower as compared to yesterday’s close. The stock price fluctuated between $46.75 and $49.45 throughout the trading session with the volume trading being 2633166 shares, which represented a significant variation when compared to the three months average volume of 4.34 million shares. The firm’s stock price fluctuated -8.83% within the last five trades and -10.79% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price decreased -10.88% in the last 6 months and 9.07% was added to its value over the previous 3 months. OVV stock is trading at a margin of -9.82%, -4.84% and 1.21% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, OVV deals in the Energy domain. The stock is trading -26.08 percent below its 52-week high and 62.86 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 36.7. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Ovintiv Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at 25.10 percent and the profit margin is 22.40 percent, and the company has reported a gross margin of 55.20 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $12.32 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio for Ovintiv Inc. (NYSE:OVV) is 5.09. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 2.72. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 1.14 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 2.07, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 0.20 percent of Ovintiv Inc. shares are owned by insiders, and 79.20 percent are held by financial institutions. RICKS THOMAS G, the Director at Ovintiv Inc. (OVV) has sold 19,231 shares of firm on Jun 07 at a price of $59.50 against the total amount of $1.14 million. In another inside trade, Mayson Howard John, Director of Ovintiv Inc. (NYSE:OVV) sold 550 shares of the firm on Jun 01 for a total worth of $32052.0 at a price of $58.28. An inside trade which took place on May 27, Director of Ovintiv Inc. Mayson Howard John sold 1,450 shares of firm against total price of $78679.0 at the cost of $54.26 per share.