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 $204,560 were sold by Mayson Howard John on May 31 ’24. At $51.14 per share, Mayson Howard John sold 4,000 shares. The insider’s holdings dropped to 45,279 shares worth approximately $2.19 million following the completion of this transaction.
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Also, Chhina Sippy purchased 1,600 shares, netting a total of over 79,200 in proceeds. Following the buying of shares at $49.50 each, the insider now holds 1,600 shares.
Before that, NANCE STEVEN W had sold 12,000 shares from its account. In a trade valued at $600,000, the Director traded Ovintiv Inc shares for $50.00 each. Upon closing the transaction, the insider’s holdings decreased to 12,000 shares, worth approximately $0.43 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 surge of approximately 1.57%. Over the course of the year, Ovintiv Inc shares have jumped approximately 10.13%. 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 $51.13, while a 200-day SMA reached $47.23. Nevertheless, trading volume fell to 2.57 million shares from 2.12 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 47.82, which, if violated, would cause prices to drop to 47.28. In the upper region, resistance lies at 49.20. The next price resistance is at 50.04. RSI (Relative Strength Index) is 44.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 71.89%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
