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May 06, 2023

Ovintiv Reports 5% Profit Increase with AI Robot

Swing Trader's AI trading robot focused on the Consumer, Energy and Financial sectors (Diversified) has been a top performer in Tickeron's robot factory over the past week. The robot generated an impressive 5,00% return for OVV, indicating a strong bullish trend in the stock.

However, it is important to note that OVV saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on April 25, 2023. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor analyzed 43 instances where the MACD indicator turned negative, and found that in 37 of those cases, the stock moved lower in the days that followed. This puts the odds of a downward move at 86%.

Looking at OVV's recent earnings report from February 27, the company missed the estimated earnings per share of $1.76, reporting only 92 cents per share. With 3.02M shares outstanding, the current market capitalization sits at 7.99B. This indicates that the stock is currently trading at a relatively high valuation, and investors may be expecting strong future earnings growth to justify this valuation.

Overall, while Swing Trader's AI trading robot has shown impressive performance in the short term, the bearish MACD signal and the recent earnings miss should be taken into consideration by investors. It is important to conduct further research and analysis to determine if the current valuation is justified and if the stock has potential for future growth.

Related Ticker: OVV

OVV's Stochastic Oscillator is sitting in oversold zone for 2 days

Be on the lookout for a price bounce soon.

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where OVV advanced for three days, in of 313 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 262 cases where OVV Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for OVV moved out of overbought territory on April 12, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 41 similar instances where the indicator moved out of overbought territory. In of the 41 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on April 16, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on OVV as a result. In of 97 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for OVV turned negative on April 12, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 42 similar instances when the indicator turned negative. In of the 42 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where OVV declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

OVV broke above its upper Bollinger Band on April 02, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.351) is normal, around the industry mean (5.854). P/E Ratio (6.595) is within average values for comparable stocks, (18.621). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (5.068). Dividend Yield (0.023) settles around the average of (0.083) among similar stocks. P/S Ratio (1.263) is also within normal values, averaging (148.486).

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 75, placing this stock slightly better than average.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. OVV’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

Notable companies

The most notable companies in this group are ConocoPhillips (NYSE:COP), Canadian Natural Resources Limited (NYSE:CNQ), EOG Resources (NYSE:EOG), Pioneer Natural Resource Co (NYSE:PXD), Occidental Petroleum Corp (NYSE:OXY), Hess Corp (NYSE:HES), Diamondback Energy (NASDAQ:FANG), Devon Energy Corp (NYSE:DVN), EQT Corp (NYSE:EQT), Marathon Oil Corp (NYSE:MRO).

Industry description

The oil and gas production segment includes companies that specialize in exploration, development, and production of oil and natural gas. These companies are focused on upstream operations. Companies typically identify deposits, drill wells, and extract raw materials from underground. The industry also includes related services like rig operations, feasibility studies, machinery rentals etc. Several operators in this industry work with various types of contractors such as engineering procurement and construction contractors, as well as with joint-venture partners and oil field service companies. Oil and gas often involves large fixed costs of production; so, declining crude oil prices, for example, is a potential negative for this industry. Conoco Phillips, EOG Resources, Inc. and Pioneer Natural Resources Company are some examples of companies operating in this space.

Market Cap

The average market capitalization across the Oil & Gas Production Industry is 3.9B. The market cap for tickers in the group ranges from 3.28K to 151.38B. COP holds the highest valuation in this group at 151.38B. The lowest valued company is PSTRQ at 3.28K.

High and low price notable news

The average weekly price growth across all stocks in the Oil & Gas Production Industry was -1%. For the same Industry, the average monthly price growth was 6%, and the average quarterly price growth was 49%. PTRVF experienced the highest price growth at 200%, while SDTTU experienced the biggest fall at -89%.

Volume

The average weekly volume growth across all stocks in the Oil & Gas Production Industry was -57%. For the same stocks of the Industry, the average monthly volume growth was 25% and the average quarterly volume growth was 35%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 53
P/E Growth Rating: 52
Price Growth Rating: 55
SMR Rating: 67
Profit Risk Rating: 75
Seasonality Score: 6 (-100 ... +100)
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OVVDaily Signal changed days agoGain/Loss if shorted
 
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General Information

producer and developer of multi-basin portfolio of oil, natural gas liquids and natural gas producing plays

Industry OilGasProduction

Profile
Fundamentals
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Address
370 - 17th Street
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+1 303 623-2300
Employees
1743
Web
https://www.ovintiv.com
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