Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ovintiv Inc shares valued at $79,200 were purchased by Chhina Sippy on May 14 ’24. At $49.50 per share, Chhina Sippy acquired 1,600 shares. The insider’s holdings grew to 1,600 shares worth approximately $77248.0 following the completion of this transaction.
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Also, NANCE STEVEN W sold 12,000 shares, netting a total of over 600,000 in proceeds. Following the sale of shares at $50.00 each, the insider now holds 8,929 shares.
Before that, Zemljak Renee Ellen had sold 76,264 shares from its account. In a trade valued at $3,886,413, the EVP, Midstream, Mrktg & Fndmtl traded Ovintiv Inc shares for $50.96 each. Upon closing the transaction, the insider’s holdings decreased to 76,264 shares, worth approximately $1.14 million.
As published in their initiating research note from Barclays on April 10, 2024, Ovintiv Inc [OVV] has been an Overweight and the price target has been revised to $69. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early December. As of November 22, 2023, Citigroup has increased its “Neutral” rating to a “Buy” for OVV.
Analyzing OVV Stock Performance
During the last five days, there has been a drop of approximately -2.07%. Over the course of the year, Ovintiv Inc shares have jumped approximately 9.93%. Shares of the company reached a 52-week high of $55.95 on 04/10/24 and a 52-week low of $39.68 on 01/18/24. A 50-day SMA is recorded $51.81, while a 200-day SMA reached $47.17. Nevertheless, trading volume fell to 1.68 million shares from 2.14 million shares the previous day.
Support And Resistance Levels for Ovintiv Inc (OVV)
According to the 24-hour chart, there is a support level at 47.79, which, if violated, would cause prices to drop to 47.30. In the upper region, resistance lies at 49.13. The next price resistance is at 49.98. RSI (Relative Strength Index) is 31.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.30, which suggests the price will decrease in the coming days. Percent R is at 97.26%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
