October 19, 2021

News Recap: Ovintiv Inc. (NYSE:OVV)

Ovintiv Inc. (NYSE:OVV) stock identified change of 50.48% away from 52-week low price and recently located move of -91.79% off 52-week high price. It has market worth of $880.88M and dividend yield of 12.03%. OVV stock has been recorded -70.08% away from 50 day moving average and -83.69% away from 200 day moving average. Moving closer, we can see that shares have been trading -4.13% off 20-day moving average.

On April 2, 2020, Ovintiv Inc. (NYSE:OVV) restructured its crude oil derivatives positions to provide additional downside protection for the balance of 2020. In addition, the Company now plans to further reduce its second quarter investments by an additional $200 million, bringing total capital reductions in the second quarter to $500 million. Updated hedge and sensitivity tables are included within this release.

We have built our Company with tremendous flexibility and optionality for volatile and uncertain times like we are currently experiencing, said Ovintiv CEO Doug Suttles. We are using and expect to continue to use this flexibility as market conditions evolve. We have created more certainty in our cash flow by restructuring oil hedges and further reducing second quarter capital spending. We will have additional details when we report our first quarter earnings and operating results.

The Basic Materials sector company, Ovintiv Inc. noticed change of 18.80% to $3.16 along volume of 14204670 shares in recent session compared to an average volume of 7.94M. The stock observed return of 11.27% in 5 days trading activity. The stock was at -70.22% over one month performance. OVV’s shares are at -86.67% for the quarter and driving a -90.77% return over the course of the past year and is now at -86.52% since this point in 2018.

The average volatility for the week at 15.29% and for month was at 25.02%. There are 278.76M shares outstanding and 257.72M shares are floated in market. Right now the stock beta is 2.78.