Stocks of Ovintiv Inc (NYSE:OVV) traded higher last session on Wall Street, down -0.02% to $50.90.
OVV stock price is now -1.80% away from the 50-day moving average and 8.36% away from the 200-day moving average. The market capitalization of the company currently stands at $13.69B.
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With the price target of $69, Barclays recently initiated with Overweight rating for Ovintiv Inc (NYSE: OVV). On December 06, 2023, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock reducing its target price from $61 to quote $58, while ‘Citigroup’ rates the stock as ‘Buy’
In other news, Zemljak Renee Ellen, EVP, Midstream, Mrktg & Fndmtl sold 76,264 shares of the company’s stock on Mar 14 ’24. The stock was sold for $3,886,413 at an average price of $50.96. Upon completion of the transaction, the EVP, Midstream, Mrktg & Fndmtl now directly owns 23,672 shares in the company, valued at $1.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01 ’24, EVP, Corporate Services Moore Rachel Maureen sold 9,300 shares of the business’s stock. A total of $471,045 was realized by selling the stock at an average price of $50.65. This leaves the insider owning 52,557 shares of the company worth $2.68 million. A total of 5.97% of the company’s stock is owned by insiders.
During the past 12 months, Ovintiv Inc has had a low of $32.07 and a high of $55.95. As of last week, the company has a debt-to-equity ratio of 0.69, a current ratio of 0.52, and a quick ratio of 0.52.
The net profit margin was 18.23% and return on equity was 21.33% for OVV. The company reported revenue of $2.35 billion for the quarter, compared to $2.55 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.8 percent.
