Ovintiv Inc. (NYSE:OVV), an energy company focused on hydrocarbon exploration and production, particularly in the areas of natural gas, natural gas liquids, and crude oil, reported insider sales, according to its latest SEC filing. Her Renee Zemljak, the company's Executive Vice President of Midstream, Marketing and Fundamentals, sold 76,264 shares of the company's stock on March 14, 2024. Renee Zemljak has been active in the market over the past year, selling a total of 76,264 shares and buying no shares. The transaction was disclosed in an SEC filing.
Ovintiv Inc's insider trading history shows a pattern of insider selling, with 6 insider selling recorded over the past year and no insider buying over the same period. In terms of valuation, Ovintiv Inc's stock was trading at $50.96 on the day of the insider transaction. The recent sale brings the market cap to $13.71 billion. The company's price-to-earnings ratio is 6.40x, lower than the industry median of 10.41x, and also lower than the company's historical median price-to-earnings ratio.
Considering the stock price is $50.96 and GuruFocus Value is $47.41, Ovintiv Inc.’s Price to GF Value ratio is 1.07, indicating that the stock is fairly valued based on its GF Value. GF Value is calculated using historical trading multiples, GuruFocus adjustment factors based on past earnings and growth, and Morningstar analyst estimates of future performance.
This article created by GuruFocus is intended to provide general insight and is not intended as financial advice. Our commentary is based on historical data and analyst forecasts using an unbiased methodology and is not intended to serve as specific investment guidance. It does not constitute a recommendation to buy or sell stocks, and does not take into account your individual investment objectives or financial situation. Our objective is to provide fundamental data-driven analysis over time. Please note that our analysis may not incorporate the latest announcements or qualitative information from price-sensitive companies. GuruFocus has no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
