Ovintiv Price Book Value Ratio from 2010 to 2024
| OVV Stock | USD 48.29 0.01 0.02% |
Price Book Value Ratio | First Reported 2010-12-31 | Previous Quarter 1.10075294 | Current Value 1.08 | Quarterly Volatility 0.64925321 |
Check Ovintiv financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Ovintiv main balance sheet or income statement drivers, such as Depreciation And Amortization of 1.7 B, Interest Expense of 467.4 M or Total Revenue of 7.9 B, as well as many exotic indicators such as Price To Sales Ratio of 1.2, Dividend Yield of 0.0343 or PTB Ratio of 1.08. Ovintiv financial statements analysis is a perfect complement when working with Ovintiv Valuation or Volatility modules.
Ovintiv | Price Book Value Ratio |
Latest Ovintiv's Price Book Value Ratio Growth Pattern
Below is the plot of the Price Book Value Ratio of Ovintiv over the last few years. It is Ovintiv's Price Book Value Ratio historical data analysis aims to capture in quantitative terms the overall pattern of either growth or decline in Ovintiv's overall financial position and show how it may be relating to other accounts over time.
| Price Book Value Ratio | 10 Years Trend |
|
Price Book Value Ratio |
| Timeline |
Ovintiv Price Book Value Ratio Regression Statistics
| Arithmetic Mean | 1.45 | |
| Geometric Mean | 1.32 | |
| Coefficient Of Variation | 44.67 | |
| Mean Deviation | 0.52 | |
| Median | 1.55 | |
| Standard Deviation | 0.65 | |
| Sample Variance | 0.42 | |
| Range | 2.1309 | |
| R-Value | (0.40) | |
| Mean Square Error | 0.38 | |
| R-Squared | 0.16 | |
| Significance | 0.14 | |
| Slope | (0.06) | |
| Total Sum of Squares | 5.90 |
Ovintiv Price Book Value Ratio History
About Ovintiv Financial Statements
There are typically three primary documents that fall into the category of financial statements. These documents include Ovintiv income statement, its balance sheet, and the statement of cash flows. Ovintiv investors use historical funamental indicators, such as Ovintiv's Price Book Value Ratio, to determine how well the company is positioned to perform in the future. Although Ovintiv investors may use each financial statement separately, they are all related. The changes in Ovintiv's assets and liabilities, for example, are also reflected in the revenues and expenses that we see on Ovintiv's income statement, which results in the company's gains or losses. Cash flows can provide more information regarding cash listed on a balance sheet, but not equivalent to net income shown on the income statement. We offer a historical overview of the basic patterns found on Ovintiv Financial Statements. Understanding these patterns can help to make the right decision on long term investment in Ovintiv. Please read more on our technical analysis and fundamental analysis pages.
| Last Reported | Projected for Next Year | ||
| Price Book Value Ratio | 1.10 | 1.08 |
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
| 0.9 | PR | Permian Resources | PairCorr |
| 0.87 | SD | SandRidge Energy | PairCorr |
| 0.82 | SM | SM Energy | PairCorr |
Moving against Ovintiv Stock
| 0.41 | EP | Empire Petroleum Corp | 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 the analysis of Ovintiv Correlation against competitors. For more information on how to buy Ovintiv Stock please use our How to Invest in Ovintiv guide.You can also try the Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Complementary Tools for Ovintiv Stock analysis
When running Ovintiv's price analysis, check to measure Ovintiv's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Ovintiv is operating at the current time. Most of Ovintiv's value examination focuses on studying past and present price action to predict the probability of Ovintiv's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ovintiv's price. Additionally, you may evaluate how the addition of Ovintiv to your portfolios can decrease your overall portfolio volatility.
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Is Ovintiv's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Ovintiv. If investors know Ovintiv will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Ovintiv listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.37) | Dividend Share 1.2 | Earnings Share 7.17 | Revenue Per Share 39.271 | Quarterly Revenue Growth (0.08) |
The market value of Ovintiv is measured differently than its book value, which is the value of Ovintiv that is recorded on the company's balance sheet. Investors also form their own opinion of Ovintiv's value that differs from its market value or its book value, called intrinsic value, which is Ovintiv's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Ovintiv's market value can be influenced by many factors that don't directly affect Ovintiv's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
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.