Ovintiv Inc’s recent filing unveils that its EVP, Midstream, Mrktg & Fndmtl Zemljak Renee Ellen unloaded Company’s shares for reported $3.89 million on Mar 14 ’24. In the deal valued at $50.96 per share,76,264 shares were sold. As a result of this transaction, Zemljak Renee Ellen now holds 23,672 shares worth roughly $1.31 million.
Then, Moore Rachel Maureen sold 9,300 shares, generating $471,045 in total proceeds. Upon selling the shares at $50.65, the EVP, Corporate Services now owns 52,557 shares.
Before that, Mayson Howard John sold 6,000 shares. Ovintiv Inc shares valued at $303,360 were divested by the Director at a price of $50.56 per share. As a result of the transaction, Mayson Howard John now holds 36,840 shares, worth roughly $2.04 million.
JP Morgan upgraded its Ovintiv Inc [OVV] rating to an Overweight from a a Neutral in a research note published on December 06, 2023; the price target was decreased to $58 from $61. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in late November from “a Neutral” to “a Buy”.
Price Performance Review of OVV
On Monday, Ovintiv Inc [NYSE:OVV] saw its stock jump 0.14% to $55.35. Over the last five days, the stock has gained 6.24%. Ovintiv Inc shares have risen nearly 26.02% since the year began. Nevertheless, the stocks have risen 40.55% over the past one year. While a 52-week high of $55.52 was reached on 04/08/24, a 52-week low of $32.07 was recorded on 01/18/24. SMA at 50 days reached $47.76, while 200 days put it at $45.42. A total of 1.66 million shares were traded, compared to the trading of 2.91 million shares in the previous session.
Levels Of Support And Resistance For OVV Stock
The 24-hour chart illustrates a support level at 54.88, which if violated will result in even more drops to 54.40. On the upside, there is a resistance level at 55.68. A further resistance level may holdings at 56.00. The Relative Strength Index (RSI) on the 14-day chart is 79.44, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.54, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.56%. Stochastics %K at 96.24% indicates the stock is a selling.
How much short interest is there in Ovintiv Inc?
A steep rise in short interest was recorded in Ovintiv Inc stocks on Mar 15, 2024, dropping by -0.47 million shares to a total of 4.74 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 5.21 million shares. There was a decline of -9.92%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.95% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.17.
The most recent change occurred on April 19, 2023 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $52 price target.
