Insider Sell: EVP, Corporate Services Rachel Moore Sells 9,300 Shares of Ovintiv Inc (OVV)
Rachel Moore, EVP, Corporate Services of Ovintiv Inc (NYSE:OVV), has sold 9,300 shares of the company on March 1, 2024, according to a recent SEC filing. The transaction was executed at an average price of $50.65 per share, resulting in a total sale amount of $470,545.
Ovintiv Inc is an energy company focused on developing its multi-basin portfolio of oil, natural gas liquids, and natural gas producing plays. The company operates through the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada.
Over the past year, Rachel Moore has engaged in the sale of 9,300 shares and has not made any purchases of the company's stock. The insider transaction history for Ovintiv Inc reveals a pattern of 5 insider sells and no insider buys over the past year.
On the valuation front, Ovintiv Inc's shares were trading at $50.65 on the day of the insider's recent sale, giving the company a market capitalization of $13.174 billion. The price-earnings ratio stands at 6.15, which is below the industry median of 10.475 and also below the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is 1.07, with a GF Value of $47.45, indicating that Ovintiv Inc is Fairly Valued based on its GF Value. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
Investors and analysts often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, insider transactions are not always indicative of future stock performance and can be influenced by various factors, including personal financial needs and portfolio diversification strategies.
For more detailed information on insider transactions and the company's financial performance, interested parties can refer to the full SEC filing.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
