OVV - Ovintiv President & CEO Sold $798K In Company Stock | Benzinga
Michael Brendan McCracken, President & CEO at Ovintiv (NYSE:OVV), reported an insider sell on December 5, according to a new SEC filing.
What Happened: According to a Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday, McCracken sold 18,047 shares of Ovintiv. The total transaction value is $798,218.
At Wednesday morning, Ovintiv shares are down by 0.47%, trading at $42.21.
Discovering Ovintiv: A Closer Look
Ovintiv is an independent oil and gas producer with key assets in the Permian, Eagle Ford, Montney, and Duvernay areas. At the end of 2019, the company reported net proven reserves of 1,348 million barrels of oil equivalent. Net production averaged 543 thousand barrels of oil equivalent per day in 2020 at a ratio of 53% oil and natural gas liquids and 47% natural gas.
Breaking Down Ovintiv's Financial Performance
Revenue Growth: Ovintiv's revenue growth over a period of 3 months has faced challenges. As of 30 September, 2023, the company experienced a revenue decline of approximately -25.36%. This indicates a decrease in the company's top-line earnings. When compared to others in the Energy sector, the company faces challenges, achieving a ...