Stock Rating Upgrade
In the last week the Value Trend Rating for Ovintiv Inc (NYSE: OVV) improved from C to B reflecting improving fundamentals and high Appreciation Potential.
Recent Price Action
On 4/8/24, Ovintiv Inc (NYSE: OVV) stock rose slightly by 0.1%, closing at $55.35. However, this advance was accompanied by exceptionally low trading volume at 49% of normal. The stock has performed in line with the market over the last nine months and has risen 6.6% during the last week.
Current PriceTarget Research Rating
OVV’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Ovintiv has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Ovintiv has a very high Appreciation Score of 86 but a neutral Power Rating of 42, producing the Positive Value Trend Rating.
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