Ovintiv Ownership
| OVV Stock | CAD 61.37 2.14 3.37% |
Shares in Circulation | First Issued 2001-09-30 | Previous Quarter 272.3 M | Current Value 268.1 M | Avarage Shares Outstanding 202.2 M | Quarterly Volatility 74.7 M |
Ovintiv |
Ovintiv Stock Ownership Analysis
About 85.0% of the company shares are owned by institutional investors. The company has price-to-book ratio of 1.08. Typically companies with comparable Price to Book (P/B) are able to outperform the market in the long run. Ovintiv has Price/Earnings To Growth (PEG) ratio of 0.06. The entity recorded earning per share (EPS) of 10.55. The firm last dividend was issued on the 13th of December 2024. Ovintiv had 1:5 split on the 27th of January 2020. Ovintiv Inc., together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. Ovintiv Inc. was incorporated in 2020 and is based in Denver, Colorado. OVINTIV INC operates under Oil Gas EP classification in Canada and is traded on Toronto Stock Exchange. It employs 1713 people. To find out more about Ovintiv contact Brendan McCracken at 303 623 2300 or learn more at https://www.ovintiv.com.Ovintiv Outstanding Bonds
Ovintiv issues bonds to finance its operations. Corporate bonds make up one of the largest components of the U.S. bond market, which is considered the world's largest securities market. Ovintiv uses the proceeds from bond sales for a wide variety of purposes, including financing ongoing mergers and acquisitions, buying new equipment, investing in research and development, buying back their own stock, paying dividends to shareholders, and even refinancing existing debt. Most Ovintiv bonds can be classified according to their maturity, which is the date when Ovintiv has to pay back the principal to investors. Maturities can be short-term, medium-term, or long-term (more than ten years). Longer-term bonds usually offer higher interest rates but may entail additional risks.
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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
Moving against Ovintiv Stock
| 0.52 | BBD-B | Bombardier Earnings Call This Week | PairCorr |
| 0.5 | WN | George Weston Limited | PairCorr |
| 0.41 | L | Loblaw Companies | PairCorr |
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.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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.