Recent extremely meaningful negative changes in investment behavior have impacted Ovintiv Inc (NYSE: OVV): the stock’s recent price decline challenged its longer term uptrend, and negative upside/downside volume developed.
Recent meaningful negative changes in fundamentals have impacted Ovintiv Inc (NYSE: OVV): significant quarterly sales deceleration occurred, and the consensus estimate for December, 2024 decreased significantly.
In light of these highly negative signals we are reviewing our current Overall Rating of A. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, OVV is expected to continue to be an important Value Builder.
Ovintiv has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Ovintiv has a very high Power Rating of 86 and a very high Appreciation Score of 96, resulting in the Highest Value Trend Rating.
Recent Price Action
Ovintiv Inc (NYSE: OVV) stock closed at $41.13 on 1/11/24 after a slight decline of -0.5%. This decline was accompanied by normal trading volume. The stock has declined -7.7% during the last week but has been exceptionally strong relative to the market over the last nine months.
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