Ovintiv (OVV) closed the most recent trading day at $45.52, moving +1.81% from the previous trading session. This change outpaced the S&P 500's 2.11% loss on the day. Elsewhere, the Dow lost 1.54%, while the tech-heavy Nasdaq lost 0.3%.Coming into today, shares of the energy company had lost 15.86% in the past month. In that same time, the Oils-Energy sector lost 11.61%, while the S&P 500 lost 8.19%.Investors will be hoping for strength from Ovintiv as it approaches its next earnings release. The company is expected to report EPS of $2.49, up 66% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.62 billion, up 46.64% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $9.32 per share and revenue of $10.8 billion, which would represent changes of +90.2% and +24.71%, respectively, from the prior year.Any recent changes to analyst estimates for Ovintiv should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.54% lower within the past month. Ovintiv currently has a Zacks Rank of #3 (Hold).Investors should also note Ovintiv's current valuation metrics, including its Forward P/E ratio of 4.8. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 4.8.Investors should also note that OVV has a PEG ratio of 0.1 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. OVV's industry had an average PEG ratio of 0.33 as of yesterday's close.The Oil and Gas - Exploration and Production - Canadian industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions. FREE Report: The Metaverse is Exploding! Don’t You Want to Cash In? Rising gas prices. The war in Ukraine. America's recession. Inflation. It's no wonder why the metaverse is so popular and growing every day. Becoming Spider Man and fighting Darth Vader is infinitely more appealing than spending over $5 per gallon at the pump. And that appeal is why the metaverse can provide such massive gains for investors. But do you know where to look? Do you know which metaverse stocks to buy and which to avoid? In a new FREE report from Zacks' leading stock specialist, we reveal how you could profit from the internet’s next evolution. Even though the popularity of the metaverse is spreading like wildfire, investors like you can still get in on the ground floor and cash in. Don't miss your chance to get your piece of this innovative $30 trillion opportunity - FREE.>>Yes, I want to know the top metaverse stocks for 2022>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ovintiv Inc. (OVV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research