Ovintiv Inc.’s recently made public that its Director NANCE STEVEN W unloaded Company’s shares for reported $58429.0 on Aug 03. In the deal valued at $48.65 per share,1,201 shares were sold. As a result of this transaction, NANCE STEVEN W now holds 20,929 shares worth roughly $ 1.01 million.
Then, Zemljak Renee Ellen sold 70,424 shares, generating $3,267,674 in total proceeds. Upon selling the shares at $46.40, the EVP, Midstream, Mrktg & Fndmtl now owns 0 shares.
Before that, Mayson Howard John sold 3,000 shares. Ovintiv Inc. shares valued at $136,860 were divested by the Director at a price of $45.62 per share. As a result of the transaction, Mayson Howard John now holds 21,403 shares, worth roughly $1.03 million.
PT values the company’s stock at a premium of -9.73 to its Friday closing price.
Price Performance Review of OVV
On Friday, Ovintiv Inc. [NYSE:OVV] saw its stock jump 2.81% to $48.28. On the same session, the stock had its day’s lowest price of $47.42, but rose to a high of $48.7086. Over the last five days, the stock has gained 3.47%. Ovintiv Inc. shares have fallen nearly -4.79% since the year began. Nevertheless, the stocks have fallen -9.15% over the past one year. While a 52-week high of $59.10 was reached on 01/27/23, a 52-week low of $32.07 was recorded on 05/16/23. SMA at 50 days reached $43.54, while 200 days put it at $43.02. A total of 2.95 million shares were traded, compared to the trading of 3.71 million shares in the previous session.
Levels Of Support And Resistance For OVV Stock
The 24-hour chart illustrates a support level at 47.56, which if violated will result in even more drops to 46.85. On the upside, there is a resistance level at 48.85. A further resistance level may holdings at 49.42. The Relative Strength Index (RSI) on the 14-day chart is 63.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 17.55%. Stochastics %K at 58.09% indicates the stock is a holding.
How much short interest is there in Ovintiv Inc.?
A steep rise in short interest was recorded in Ovintiv Inc. stocks on Aug 14, 2023, dropping by -0.53 million shares to a total of 13.53 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 14.06 million shares. There was a decline of -3.92%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.45% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.4.
Ovintiv Inc. [OVV] – Who Are The Largest Shareholders?
In filings from Dodge & Cox, it is revealed that the company now owns 29,360,276 shares, or roughly 10.72% of the outstanding OVV shares. In other words, the investor’s shares have risen by 2,344,256 from its previous 13-F filing of 27016020.0. Additionally, The Vanguard Group, Inc. decreased -2.49% of its stake after which the total value it holdings stand at $1,115,552,958, while BlackRock Fund Advisors added 78.29% of its stake to hold $1.01 billion in the firm. Over the last quarter, Fidelity Management & Research Co sold -1,079,166 shares of Ovintiv Inc., while SSgA Funds Management, Inc. sold 2,724,998 shares. At present, Hotchkis & Wiley Capital Manageme is holding 6,152,227 shares valued at $283.56 million. Smead Capital Management, Inc. owned 5,388,499 shares of the company at the time of its most recent 13F filing, worth $248.36 million.
According to FactSet, Ovintiv Inc.’s share price will average $55.11 in the next year, based on opinions of analysts polled by the firm. This is up nearly 19.25 percent from its previous closing price of $46.96. Analysts expect Ovintiv Inc. stock to reach the higher price of $69.00, while the lowest price estimate is $39.00. However, 25 analysts have rated OVV stock as an Overweight in their predictions for 2023.