Ovintiv Inc’s recently made public 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 $1.24 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 $1.94 million.
Barclays initiated its Ovintiv Inc [OVV] rating to an Overweight in a research note published on April 10, 2024; the price target was $69. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in early December from “a Neutral” to “an Overweight”. Citigroup also remained covering OVV and has increased its forecast on November 22, 2023 with a “Buy” recommendation from previously “Neutral” rating.
Price Performance Review of OVV
On Monday, Ovintiv Inc [NYSE:OVV] saw its stock fall -2.18% to $52.57. Over the last five days, the stock has lost -5.02%. Ovintiv Inc shares have risen nearly 19.69% since the year began. Nevertheless, the stocks have risen 35.91% over the past one year. While a 52-week high of $55.95 was reached on 04/10/24, a 52-week low of $32.07 was recorded on 01/18/24. SMA at 50 days reached $48.92, while 200 days put it at $45.89. A total of 3.69 million shares were traded, compared to the trading of 3.58 million shares in the previous session.
Levels Of Support And Resistance For OVV Stock
The 24-hour chart illustrates a support level at 51.74, which if violated will result in even more drops to 50.91. On the upside, there is a resistance level at 53.81. A further resistance level may holdings at 55.06. The Relative Strength Index (RSI) on the 14-day chart is 52.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 67.13%. Stochastics %K at 55.87% indicates the stock is a holding.
