Ovintiv Change To Operating Activities vs Capital Expenditures Analysis

OVV Stock  CAD 58.62  0.02  0.03%   
Ovintiv financial indicator trend analysis is much more than just breaking down Ovintiv prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Ovintiv is a good investment. Please check the relationship between Ovintiv Change To Operating Activities and its Capital Expenditures accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ovintiv. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
To learn how to invest in Ovintiv Stock, please use our How to Invest in Ovintiv guide.

Change To Operating Activities vs Capital Expenditures

Change To Operating Activities vs Capital Expenditures Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Ovintiv Change To Operating Activities account and Capital Expenditures. At this time, the significance of the direction appears to have very week relationship.
The correlation between Ovintiv's Change To Operating Activities and Capital Expenditures is 0.29. Overlapping area represents the amount of variation of Change To Operating Activities that can explain the historical movement of Capital Expenditures in the same time period over historical financial statements of Ovintiv, assuming nothing else is changed. The correlation between historical values of Ovintiv's Change To Operating Activities and Capital Expenditures is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Change To Operating Activities of Ovintiv are associated (or correlated) with its Capital Expenditures. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Capital Expenditures has no effect on the direction of Change To Operating Activities i.e., Ovintiv's Change To Operating Activities and Capital Expenditures go up and down completely randomly.

Correlation Coefficient

0.29
Relationship DirectionPositive 
Relationship StrengthVery Weak

Change To Operating Activities

Capital Expenditures

Capital Expenditures are funds used by Ovintiv to acquire physical assets such as property, industrial buildings or equipment. This type of outlay is used by management to increase the scope of Ovintiv operations. These expenditures can include everything from repairing an office equipment, building a brand new facility, or writing new software.
Most indicators from Ovintiv's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Ovintiv current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ovintiv. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
To learn how to invest in Ovintiv Stock, please use our How to Invest in Ovintiv guide.At this time, Ovintiv's Tax Provision is very stable compared to the past year. As of the 11th of December 2024, Enterprise Value Over EBITDA is likely to grow to 4.03, while Selling General Administrative is likely to drop about 1.1 B.
 2021 2022 2023 2024 (projected)
Interest Expense340M311M355M467.4M
Depreciation And Amortization1.2B1.1B1.8B1.6B

Ovintiv fundamental ratios Correlations

0.81-0.460.590.80.920.750.840.510.160.050.960.230.410.050.830.230.130.85-0.110.56-0.20.880.180.460.12
0.81-0.630.50.380.630.610.90.23-0.080.360.710.320.460.360.660.190.340.920.070.29-0.280.92-0.070.580.38
-0.46-0.63-0.04-0.12-0.4-0.31-0.57-0.27-0.14-0.2-0.41-0.17-0.35-0.2-0.16-0.16-0.09-0.670.01-0.20.25-0.60.21-0.310.04
0.590.5-0.040.360.570.790.470.20.220.160.50.16-0.120.160.77-0.380.230.45-0.090.440.230.610.450.470.56
0.80.38-0.120.360.850.540.550.390.24-0.320.87-0.040.2-0.320.630.29-0.080.4-0.310.370.020.430.420.05-0.12
0.920.63-0.40.570.850.740.80.420.33-0.280.97-0.050.09-0.280.740.08-0.040.68-0.410.520.080.730.350.16-0.01
0.750.61-0.310.790.540.740.680.20.19-0.030.730.010.06-0.030.89-0.190.240.61-0.310.340.170.710.450.310.15
0.840.9-0.570.470.550.80.680.09-0.05-0.060.86-0.010.27-0.060.670.180.120.84-0.310.32-0.050.850.090.230.17
0.510.23-0.270.20.390.420.20.090.340.340.370.640.460.340.330.17-0.080.480.410.6-0.530.47-0.170.620.03
0.16-0.08-0.140.220.240.330.19-0.050.34-0.250.16-0.2-0.4-0.25-0.01-0.560.010.0-0.20.20.50.040.60.04-0.03
0.050.36-0.20.16-0.32-0.28-0.03-0.060.34-0.25-0.210.80.511.00.120.130.530.330.850.02-0.640.33-0.460.850.49
0.960.71-0.410.50.870.970.730.860.370.16-0.210.00.28-0.210.780.24-0.010.74-0.340.48-0.040.770.280.2-0.02
0.230.32-0.170.16-0.04-0.050.01-0.010.64-0.20.80.00.630.80.280.290.170.40.740.31-0.750.39-0.510.820.42
0.410.46-0.35-0.120.20.090.060.270.46-0.40.510.280.630.510.260.670.030.550.510.25-0.820.46-0.510.56-0.01
0.050.36-0.20.16-0.32-0.28-0.03-0.060.34-0.251.0-0.210.80.510.120.130.530.330.850.02-0.640.33-0.460.850.49
0.830.66-0.160.770.630.740.890.670.33-0.010.120.780.280.260.120.030.240.67-0.080.38-0.080.760.280.460.21
0.230.19-0.16-0.380.290.08-0.190.180.17-0.560.130.240.290.670.130.03-0.110.230.080.11-0.750.13-0.590.07-0.28
0.130.34-0.090.23-0.08-0.040.240.12-0.080.010.53-0.010.170.030.530.24-0.110.240.33-0.07-0.050.260.050.480.15
0.850.92-0.670.450.40.680.610.840.480.00.330.740.40.550.330.670.230.240.110.53-0.410.98-0.170.640.18
-0.110.070.01-0.09-0.31-0.41-0.31-0.310.41-0.20.85-0.340.740.510.85-0.080.080.330.110.0-0.590.08-0.390.690.27
0.560.29-0.20.440.370.520.340.320.60.20.020.480.310.250.020.380.11-0.070.530.0-0.230.56-0.110.440.07
-0.2-0.280.250.230.020.080.17-0.05-0.530.5-0.64-0.04-0.75-0.82-0.64-0.08-0.75-0.05-0.41-0.59-0.23-0.310.79-0.550.0
0.880.92-0.60.610.430.730.710.850.470.040.330.770.390.460.330.760.130.260.980.080.56-0.31-0.060.670.28
0.18-0.070.210.450.420.350.450.09-0.170.6-0.460.28-0.51-0.51-0.460.28-0.590.05-0.17-0.39-0.110.79-0.06-0.24-0.02
0.460.58-0.310.470.050.160.310.230.620.040.850.20.820.560.850.460.070.480.640.690.44-0.550.67-0.240.48
0.120.380.040.56-0.12-0.010.150.170.03-0.030.49-0.020.42-0.010.490.21-0.280.150.180.270.070.00.28-0.020.48
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Ovintiv Account Relationship Matchups

Ovintiv fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets21.5B14.5B14.1B15.1B20.0B18.9B
Short Long Term Debt Total8.2B8.0B5.8B4.5B6.7B7.8B
Other Current Liab114M130M703M1.9B4M3.8M
Total Current Liabilities2.4B2.4B2.7B2.8B2.8B2.3B
Total Stockholder Equity9.9B3.8B5.1B7.7B10.4B8.3B
Property Plant And Equipment Net16.2B10.4B9.7B10.3B15.5B13.7B
Current Deferred Revenue1.8B1.3B1.6B1.8B2.1B1.3B
Net Debt8.0B8.0B5.6B4.5B6.7B6.9B
Retained Earnings421M(5.8B)(4.5B)(1.1B)697M662.2M
Accounts Payable355M306M328M436M586M940.2M
Cash190M10M195M5M3M2.9M
Non Current Assets Total19.6B13.2B12.5B13.4B18.3B16.5B
Non Currrent Assets Other140M50M17M147M99M94.1M
Other Assets741M126M123M360M324M561.9M
Cash And Short Term Investments190M10M195M5M3M2.9M
Net Receivables1.4B1.1B1.3B1.5B1.5B1.1B
Common Stock Total Equity6.1B6.0B8.5B3M3.5M3.3M
Common Stock Shares Outstanding261.2M259.8M266.4M258.4M263.9M230.6M
Liabilities And Stockholders Equity21.5B14.5B14.1B15.1B20.0B18.9B
Non Current Liabilities Total9.1B8.2B6.2B4.6B6.8B8.3B
Inventory(248M)(211M)(21M)(72M)(64.8M)(61.6M)
Other Current Assets492M332M126M168M286M271.7M
Other Stockholder Equity1.4B8.5B8.5B7.8B8.6B9.1B
Total Liab11.6B10.6B9.0B7.4B9.6B10.6B
Property Plant And Equipment Gross16.2B10.4B59.3B60.0B67.4B70.7B
Total Current Assets1.9B1.2B1.6B1.7B1.7B2.4B
Accumulated Other Comprehensive Income1.0B1.1B1.1B991M1.1B888.0M
Short Term Debt167M668M68M475M378M364.5M
Common Stock4.8B4.7B7.1B3M2.7M2.6M
Good Will2.6B2.6B2.6B2.6B2.6B2.6B
Short Term Investments41M38M67M70M59M49.2M
Other Liab1.1B865M525M569M512.1M486.5M
Net Tangible Assets7.3B1.2B2.4B5.1B5.9B4.4B
Long Term Debt7.0B6.4B4.8B3.2B5.5B5.4B
Long Term Debt Total7.1B6.4B4.8B3.2B2.9B4.0B
Capital Surpluse1.4B8.5B8.5B7.8B8.9B9.4B
Deferred Long Term Liab6M8M42M44M50.6M53.1M
Long Term Investments22M28M30M27M21M32.6M
Property Plant Equipment16.2B10.4B9.7B10.3B11.9B11.4B

Pair Trading with Ovintiv

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Ovintiv position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Ovintiv will appreciate offsetting losses from the drop in the long position's value.

Moving together with Ovintiv Stock

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Moving against Ovintiv Stock

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The ability to find closely correlated positions to Ovintiv could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ovintiv when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Ovintiv - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Ovintiv to buy it.
The correlation of Ovintiv is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ovintiv moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ovintiv moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Ovintiv can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Ovintiv is a strong investment it is important to analyze Ovintiv's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Ovintiv's future performance. For an informed investment choice regarding Ovintiv Stock, refer to the following important reports:
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ovintiv. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
To learn how to invest in Ovintiv Stock, please use our How to Invest in Ovintiv guide.
You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Please note, there is a significant difference between Ovintiv's value and its price as these two are different measures arrived at by different means. Investors typically determine if Ovintiv is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ovintiv's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.