Ovintiv Net Tangible Assets vs Net Working Capital Analysis
OVV Stock | USD 48.29 0.01 0.02% |
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 Net Tangible Assets and its Net Working Capital 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 tightly coupled with the direction of predictive economic indicators such as signals in real. For more information on how to buy Ovintiv Stock please use our How to Invest in Ovintiv guide.
Net Tangible Assets vs Net Working Capital
Net Tangible Assets vs Net Working Capital Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Ovintiv Net Tangible Assets account and Net Working Capital. At this time, the significance of the direction appears to have weak contrarian relationship.
The correlation between Ovintiv's Net Tangible Assets and Net Working Capital is -0.15. Overlapping area represents the amount of variation of Net Tangible Assets that can explain the historical movement of Net Working Capital in the same time period over historical financial statements of Ovintiv, assuming nothing else is changed. The correlation between historical values of Ovintiv's Net Tangible Assets and Net Working Capital is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Tangible Assets of Ovintiv are associated (or correlated) with its Net Working Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Working Capital has no effect on the direction of Net Tangible Assets i.e., Ovintiv's Net Tangible Assets and Net Working Capital go up and down completely randomly.
Correlation Coefficient | -0.15 |
Relationship Direction | Negative |
Relationship Strength | Insignificant |
Net Tangible Assets
The total assets of a company minus any intangible assets such as patents, copyrights, and goodwill; it represents the physical assets of a company.Net Working Capital
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 tightly coupled with the direction of predictive economic indicators such as signals in real. For more information on how to buy Ovintiv Stock please use our How to Invest in Ovintiv guide.At this time, Ovintiv's Tax Provision is fairly stable compared to the past year. Enterprise Value Over EBITDA is likely to climb to 4.34 in 2024, whereas Sales General And Administrative To Revenue is likely to drop 0.16 in 2024.
2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 340M | 311M | 355M | 467.4M | Depreciation And Amortization | 1.3B | 1.1B | 1.8B | 1.7B |
Ovintiv fundamental ratios Correlations
Click cells to compare fundamentals
Ovintiv Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Ovintiv fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 21.5B | 14.5B | 14.1B | 15.1B | 20.0B | 18.9B | |
Short Long Term Debt Total | 8.2B | 8.0B | 5.8B | 4.5B | 6.7B | 7.8B | |
Other Current Liab | 114M | 130M | 703M | 1.9B | 1.6B | 1.7B | |
Total Current Liabilities | 2.4B | 2.4B | 2.7B | 2.8B | 2.8B | 2.3B | |
Total Stockholder Equity | 9.9B | 3.8B | 5.1B | 7.7B | 10.4B | 8.3B | |
Property Plant And Equipment Net | 16.2B | 10.4B | 9.7B | 10.3B | 15.5B | 13.7B | |
Net Debt | 8.0B | 8.0B | 5.6B | 4.5B | 6.7B | 6.9B | |
Retained Earnings | 421M | (5.8B) | (4.5B) | (1.1B) | 697M | 662.2M | |
Accounts Payable | 355M | 306M | 328M | 436M | 586M | 940.2M | |
Cash | 190M | 10M | 195M | 5M | 3M | 2.9M | |
Non Current Assets Total | 19.6B | 13.2B | 12.5B | 13.4B | 18.3B | 16.5B | |
Non Currrent Assets Other | 140M | 50M | 17M | 147M | 58M | 55.1M | |
Other Assets | 741M | 126M | 1.1B | 360M | 324M | 307.8M | |
Cash And Short Term Investments | 190M | 10M | 195M | 5M | 3M | 2.9M | |
Net Receivables | 1.4B | 1.1B | 1.3B | 1.5B | 1.3B | 1.1B | |
Common Stock Total Equity | 6.1B | 6.0B | 8.5B | 3M | 2.7M | 2.6M | |
Common Stock Shares Outstanding | 261.2M | 259.8M | 266.4M | 258.4M | 263.9M | 202.4M | |
Liabilities And Stockholders Equity | 21.5B | 14.5B | 14.1B | 15.1B | 20.0B | 18.9B | |
Non Current Liabilities Total | 9.1B | 8.2B | 6.2B | 4.6B | 6.8B | 8.3B | |
Other Current Assets | 237M | 98M | 96M | 168M | 328M | 583.3M | |
Other Stockholder Equity | 1.4B | 8.5B | 8.5B | 7.8B | 8.6B | 7.0B | |
Total Liab | 11.6B | 10.6B | 9.0B | 7.4B | 9.6B | 10.6B | |
Property Plant And Equipment Gross | 16.2B | 10.4B | 58.3B | 60.0B | 67.4B | 70.7B | |
Total Current Assets | 1.9B | 1.2B | 1.6B | 1.7B | 1.7B | 2.4B | |
Accumulated Other Comprehensive Income | 1.0B | 1.1B | 1.1B | 991M | 1.1B | 888.0M | |
Short Term Debt | 167M | 668M | 68M | 475M | 378M | 364.5M | |
Common Stock | 4.8B | 4.7B | 7.1B | 3M | 2.7M | 2.6M | |
Current Deferred Revenue | 1.8B | 1.3B | 1.6B | 232M | 208.8M | 198.4M | |
Good Will | 2.6B | 2.6B | 2.6B | 2.6B | 2.6B | 2.6B | |
Short Term Investments | 41M | 38M | 67M | 70M | 59M | 110.5M | |
Long Term Debt | 7.0B | 6.4B | 4.8B | 3.2B | 5.5B | 4.1B | |
Long Term Debt Total | 7.1B | 6.4B | 4.8B | 3.2B | 2.9B | 4.2B | |
Capital Surpluse | 1.4B | 8.5B | 8.5B | 7.8B | 8.9B | 9.4B | |
Property Plant Equipment | 16.2B | 9.5B | 8.8B | 10.3B | 9.3B | 8.8B | |
Other Liab | 1.1B | 865M | 558M | 569M | 512.1M | 486.5M | |
Net Tangible Assets | 7.3B | 1.2B | 2.4B | 5.1B | 5.9B | 4.4B | |
Deferred Long Term Liab | 6M | 145M | 29M | 44M | 50.6M | 35.8M | |
Long Term Investments | 22M | 28M | 4M | 27M | 21M | 30.3M |
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 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 tightly coupled with the direction of predictive economic indicators such as signals in real. For more information on how to buy Ovintiv Stock please use our How to Invest in Ovintiv guide.You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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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.