Ovintiv (OVV) Stock Price, News & Analysis

Company Overview

Ovintiv Inc., together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta. In addition, the company's upstream assets comprise Bakken in northwest North Dakota, and Uinta in central Utah; and Horn River in northeast British Columbia. The company was formerly known as Encana Corporation and changed its name to Ovintiv Inc. in January 2020. Ovintiv Inc. was incorporated in 2020 and is based in Denver, Colorado.

Key Stats

• Today's Range: $39.82 to $40.77
• 50-Day Range: $38.62 to $48.89
• 52-Week Range: $37.81 to $55.95
• Volume: 14.71 million shs
• Average Volume: 3.04 million shs
• Market Capitalization: $10.68 billion
• P/E Ratio: 5.66
• Dividend Yield: 2.96%
• Price Target: $59.83
• Consensus Rating: Moderate Buy

Ovintiv Stock Analysis - MarketRank™

Ovintiv scored higher than 96% of companies evaluated by MarketBeat, and ranked 20th out of 252 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Ovintiv has received a consensus rating of Moderate Buy. The company's average rating score is 2.71, and is based on 12 buy ratings, 5 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Ovintiv has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 10.66%

Earnings Growth

Earnings for Ovintiv are expected to grow by 10.66% in the coming year, from $5.63 to $6.23 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Ovintiv is 5.66, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 132.42.

Price to Earnings Ratio vs. Sector

The P/E ratio of Ovintiv is 5.66, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 13.96.

Price to Earnings Growth Ratio

Ovintiv has a PEG Ratio of 6.50. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Ovintiv has a P/B Ratio of 1.07. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

2.29% of the float of Ovintiv has been sold short.

Short Interest Ratio / Days to Cover

Ovintiv has a short interest ratio ("days to cover") of 2, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Ovintiv has recently increased by 12.10%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Ovintiv pays a meaningful dividend of 3.06%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Ovintiv does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Ovintiv is 16.76%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Ovintiv will have a dividend payout ratio of 19.26% next year. This indicates that Ovintiv will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 0.0 / 5
• Environmental Score: -7.65

Percentage of Shares Shorted

2.29% of the float of Ovintiv has been sold short.

Short Interest Ratio / Days to Cover

Ovintiv has a short interest ratio ("days to cover") of 2, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Ovintiv has recently increased by 12.10%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 1.9 / 5
• News Sentiment: 0.37

News Sentiment

Ovintiv has a news sentiment score of 0.37. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.56 average news sentiment score of Oils/Energy companies.

News Coverage This Week

MarketBeat has tracked 16 news articles for Ovintiv this week, compared to 6 articles on an average week.

Search Interest

Only 5 people have searched for OVV on MarketBeat in the last 30 days. This is a decrease of -38% compared to the previous 30 days.

MarketBeat Follows

Only 1 people have added Ovintiv to their MarketBeat watchlist in the last 30 days. This is a decrease of -67% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Ovintiv insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 1.70% of the stock of Ovintiv is held by insiders.

Percentage Held by Institutions

83.81% of the stock of Ovintiv is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

OVV Stock Analysis - Frequently Asked Questions

How have OVV shares performed this year?

Ovintiv's stock was trading at $43.92 at the beginning of 2024. Since then, OVV shares have decreased by 7.7% and is now trading at $40.52.
View the best growth stocks for 2024 here.

How were Ovintiv's earnings last quarter?

Ovintiv Inc. (NYSE:OVV) posted its quarterly earnings results on Tuesday, July, 30th. The company reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.53 billion. Ovintiv had a net margin of 18.56% and a trailing twelve-month return on equity of 18.28%.

Who are Ovintiv's major shareholders?

Ovintiv's top institutional shareholders include Dimensional Fund Advisors LP (1.44%), Bank of New York Mellon Corp (1.14%), AQR Capital Management LLC (1.15%) and Hsbc Holdings PLC (0.37%). Insiders that own company stock include Thomas G Ricks, Rachel Maureen Moore, Howard John Mayson, Renee Ellen Zemljak, Meghan Nicole Eilers and Steven W Nance.
View institutional ownership trends.

How do I buy shares of Ovintiv?

Shares of OVV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Ovintiv own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Ovintiv investors own include Johnson & Johnson (JNJ), Exxon Mobil (XOM), American Airlines Group (AAL), General Electric (GE), Pfizer (PFE), AT&T (T) and Alibaba Group (BABA).

Company Calendar

• Ex-Dividend for 6/28 Dividend: 6/14/2024
• Dividend Payable: 6/28/2024
• Last Earnings: 7/30/2024
• Ex-Dividend for 9/27 Dividend: 9/13/2024
• Today: 9/22/2024
• Dividend Payable: 9/27/2024
• Next Earnings (Estimated): 11/05/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Oils/Energy
• Industry: Crude petroleum & natural gas
• Sub-Industry: Petroleum And Natural Gas
• Current Symbol: NYSE:OVV
• CUSIP: N/A
• CIK: 1792580
• Web: www.ovintiv.com
• Phone: 303-623-2300
• Fax: 303-623-2400
• Employees: 1,743
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $59.83
• High Stock Price Target: $69.00
• Low Stock Price Target: $51.00
• Potential Upside/Downside: +47.7%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.71
• Research Coverage: 17 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $7.16
• Trailing P/E Ratio: 5.66
• Forward P/E Ratio: 7.20
• P/E Growth: 6.5
• Net Income: $2.09 billion
• Net Margins: 18.56%
• Pretax Margin: 22.52%
• Return on Equity: 18.28%
• Return on Assets: 9.31%

Debt

• Debt-to-Equity Ratio: 0.47
• Current Ratio: 0.44
• Quick Ratio: 0.44

Sales & Book Value

• Annual Sales: $10.88 billion
• Price / Sales: 0.98
• Cash Flow: $13.78 per share
• Price / Cash Flow: 2.94
• Book Value: $38.00 per share
• Price / Book: 1.07

Miscellaneous

• Outstanding Shares: 263,610,000
• Free Float: 262,442,000
• Market Cap: $10.68 billion
• Optionable: Optionable
• Beta: 2.62