Ovintiv Inc. OVV Stock Analysis

Ovintiv Inc. stock trades under the ticker OVV & has shown recent bullishness despite broader market volatility.

OVV Stock closed at $49.83/share on 5/23/2022.

Ovintiv Inc. OVV Stock’s Technicals Broken Down

Ovintiv Inc. OVV Stock's Technical Performance Over The Last Year

OVV Stock Price: $49.83

10 Day Moving Average: $45.47

50 Day Moving Average: $50.45

200 Day Moving Average: $38.92

RSI: 52.24

MACD: -1.193

Yesterday, OVV stock completed a bullish MACD crossover, while settling 1.2% below their 50 day moving average.

Their recent trading volumes have been above average this month compared to the year prior, and their RSI is still neutral, signaling that there may be more upward momentum to come.

They need to break above the $50.31, $50.84 & $51.95/share resistance levels.

Ovintiv Inc. OVV Stock As A Long-Term Investment

Long-term oriented investors will like OVV stock’s valuation metrics, with a 14.07 P/E (ttm) & a 2.5 P/B (mrq).

They recently reported Quarterly Revenue Growth of 51.6%.

Their balance sheet will require a closer examination, with $271M of Total Cash (mrq) & $5.77B of Total Debt (mrq).

OVV stock pays a 1.22% dividend yield, which appears stable in the long-run as their payout ratio is only 17.82%.

81.55% of OVV stock’s outstanding share float is owned by institutional investors.

Ovintiv Inc. OVV Stock As A Short-Term Trade Using Options

Short-term oriented traders can use options to profit from price movements in any direction for OVV stock, while hedging against broader market volatility.

I am looking at the contracts with the 5/17 expiration date.

The $40, $45 & $50 calls look interesting, although the former strike price is very illiquid compared to the other two.

The $60, $55 & $50 puts are also appealing, but they have much lower levels of open interest vs. the puts, signaling that the market outlook for OVV in the near-term seems more bullish (despite the broader markets looking bearish).

Tying It All Together

Overall, OVV stock is worth taking a closer look into for investors & traders alike.

Investors will like their valuation metrics, as well as their dividend yield.

Traders will like their current momentum, but may be weary of their open interest levels of their options contracts.

Regardless of your portfolio strategy, OVV stock is worth researching further to see how it can be a profitable fit.