Ovintiv Stock Odds of Future Stock Price Finishing Under 61.67
| OVV Stock | CAD 64.00 0.16 0.25% |
Ovintiv |
Ovintiv Target Price Odds to finish below 61.67
The tendency of Ovintiv Stock price to converge on an average value over time is a known aspect in finance that investors have used since the beginning of the stock market for forecasting. However, many studies suggest that some traded equity instruments are consistently mispriced before traders' demand and supply correct the spread. One possible conclusion to this anomaly is that these stocks have additional risk, for which investors demand compensation in the form of extra returns.
| Current Price | Horizon | Target Price | Odds to drop to C$ 61.67 or more in 90 days |
| 64.00 | 90 days | 61.67 | about 89.58 |
Based on a normal probability distribution, the odds of Ovintiv to drop to C$ 61.67 or more in 90 days from now is about 89.58 (This Ovintiv probability density function shows the probability of Ovintiv Stock to fall within a particular range of prices over 90 days) . Probability of Ovintiv price to stay between C$ 61.67 and its current price of C$64.0 at the end of the 90-day period is about 7.42 .
Assuming the 90 days trading horizon Ovintiv has a beta of -0.0122. This indicates as returns on the benchmark increase, returns on holding Ovintiv are expected to decrease at a much lower rate. During a bear market, however, Ovintiv is likely to outperform the market. Additionally Ovintiv has an alpha of 0.1704, implying that it can generate a 0.17 percent excess return over Dow Jones Industrial after adjusting for the inherited market risk (beta). Ovintiv Price Density |
| Price |
Predictive Modules for Ovintiv
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Ovintiv. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Ovintiv Risk Indicators
For the most part, the last 10-20 years have been a very volatile time for the stock market. Ovintiv is not an exception. The market had few large corrections towards the Ovintiv's value, including both sudden drops in prices as well as massive rallies. These swings have made and broken many portfolios. An investor can limit the violent swings in their portfolio by implementing a hedging strategy designed to limit downside losses. If you hold Ovintiv, one way to have your portfolio be protected is to always look up for changing volatility and market elasticity of Ovintiv within the framework of very fundamental risk indicators.α | Alpha over Dow Jones | 0.17 | |
β | Beta against Dow Jones | -0.01 | |
σ | Overall volatility | 3.69 | |
Ir | Information ratio | 0.02 |
Ovintiv Alerts and Suggestions
In today's market, stock alerts give investors the competitive edge they need to time the market and increase returns. Checking the ongoing alerts of Ovintiv for significant developments is a great way to find new opportunities for your next move. Suggestions and notifications for Ovintiv can help investors quickly react to important events or material changes in technical or fundamental conditions and significant headlines that can affect investment decisions.| Ovintiv has accumulated 6.68 B in total debt with debt to equity ratio (D/E) of 0.84, which is about average as compared to similar companies. Ovintiv has a current ratio of 0.5, indicating that it has a negative working capital and may not be able to pay financial obligations in time and when they become due. Debt can assist Ovintiv until it has trouble settling it off, either with new capital or with free cash flow. So, Ovintiv's shareholders could walk away with nothing if the company can't fulfill its legal obligations to repay debt. However, a more frequent occurrence is when companies like Ovintiv sell additional shares at bargain prices, diluting existing shareholders. Debt, in this case, can be an excellent and much better tool for Ovintiv to invest in growth at high rates of return. When we think about Ovintiv's use of debt, we should always consider it together with cash and equity. | |
| Over 84.0% of Ovintiv shares are owned by institutional investors | |
| Latest headline from news.google.com: Zacks Industry Outlook Highlights Canadian Natural Resources, Ovintiv and Baytex - Yahoo Finance |
Ovintiv Price Density Drivers
Market volatility will typically increase when nervous long traders begin to feel the short-sellers pressure to drive the market lower. The future price of Ovintiv Stock often depends not only on the future outlook of the current and potential Ovintiv's investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. Ovintiv's indicators that are reflective of the short sentiment are summarized in the table below.
| Common Stock Shares Outstanding | 263.9 M | |
| Cash And Short Term Investments | 3 M |
Ovintiv Technical Analysis
Ovintiv's future price can be derived by breaking down and analyzing its technical indicators over time. Ovintiv Stock technical analysis helps investors analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Ovintiv. In general, you should focus on analyzing Ovintiv Stock price patterns and their correlations with different microeconomic environments and drivers.
Ovintiv Predictive Forecast Models
Ovintiv's time-series forecasting models is one of many Ovintiv's stock analysis techniques aimed to predict future share value based on previously observed values. Time-series forecasting models are widely used for non-stationary data. Non-stationary data are called the data whose statistical properties, e.g., the mean and standard deviation, are not constant over time, but instead, these metrics vary over time. This non-stationary Ovintiv's historical data is usually called time series. Some empirical experimentation suggests that the statistical forecasting models outperform the models based exclusively on fundamental analysis to predict the direction of the stock market movement and maximize returns from investment trading.
Things to note about Ovintiv
Checking the ongoing alerts about Ovintiv for important developments is a great way to find new opportunities for your next move. Our stock alerts and notifications screener for Ovintiv help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.
| Ovintiv has accumulated 6.68 B in total debt with debt to equity ratio (D/E) of 0.84, which is about average as compared to similar companies. Ovintiv has a current ratio of 0.5, indicating that it has a negative working capital and may not be able to pay financial obligations in time and when they become due. Debt can assist Ovintiv until it has trouble settling it off, either with new capital or with free cash flow. So, Ovintiv's shareholders could walk away with nothing if the company can't fulfill its legal obligations to repay debt. However, a more frequent occurrence is when companies like Ovintiv sell additional shares at bargain prices, diluting existing shareholders. Debt, in this case, can be an excellent and much better tool for Ovintiv to invest in growth at high rates of return. When we think about Ovintiv's use of debt, we should always consider it together with cash and equity. | |
| Over 84.0% of Ovintiv shares are owned by institutional investors | |
| Latest headline from news.google.com: Zacks Industry Outlook Highlights Canadian Natural Resources, Ovintiv and Baytex - Yahoo Finance |
Check out Ovintiv Backtesting, Ovintiv Valuation, Ovintiv Correlation, Ovintiv Hype Analysis, Ovintiv Volatility, Ovintiv History as well as Ovintiv Performance. To learn how to invest in Ovintiv Stock, please use our How to Invest in Ovintiv guide.You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.