Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $1.87 million 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, Chhina Sippy had added 1,600 shares to its account. In a trade valued at $79,200, the Director bought Ovintiv Inc shares for $49.50 each. Upon closing the transaction, the insider’s holdings increased to 1,600 shares, worth approximately $66080.0.
Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in mid June. As of April 10, 2024, Barclays has initiated its “an Overweight” rating for OVV. Earlier on December 06, 2023, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for OVV stock which previously was a “a Neutral”.
Analyzing OVV Stock Performance
During the last five days, there has been a drop of approximately -3.21%. Over the course of the year, Ovintiv Inc shares have dropped approximately -5.97%. Shares of the company reached a 52-week high of $55.95 on 04/10/24 and a 52-week low of $36.90 on 09/26/24. A 50-day SMA is recorded $42.33, while a 200-day SMA reached $45.99. Nevertheless, trading volume fell to 2.72 million shares from 2.69 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 40.96, which, if violated, would cause prices to drop to 40.63. In the upper region, resistance lies at 41.81. The next price resistance is at 42.33. RSI (Relative Strength Index) is 41.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.97, which suggests the price will decrease in the coming days. Percent R is at 94.25%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
