Ovintiv Inc (OVV)
Ovintiv Inc., is dedicated to the exploration, development, production and commercialization of natural gas, petroleum and natural gas liquids. The company is headquartered in Denver, Colorado.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 7.38% per annum.
- OVV price at the close of May 14, 2024 was $49.78 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 40.52% per annum.
- OVV price at the close of May 14, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of OVV price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: February 25, 2022
End date: February 28, 2024
a = 4.0803
b = -0.0002
s = 0.1232
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -7.38%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1232) – 1
= 63.69%
February 25, 2022 calculations
Top border of price channel:
Exp(Y702)
= Exp(a + b × X702 + 2 × s)
= Exp(a + b × 1,017 + 2 × s)
= Exp(4.0803 + -0.0002 × 1,017 + 2 × 0.1232)
= Exp(4.1131)
= $61.14
Bottom border of price channel:
Exp(Y702)
= Exp(a + b × X702 – 2 × s)
= Exp(a + b × 1,017 – 2 × s)
= Exp(4.0803 + -0.0002 × 1,017 – 2 × 0.1232)
= Exp(3.6203)
= $37.35
February 28, 2024 calculations
Top border of price channel:
Exp(Y1,205)
= Exp(a + b × X1,205 + 2 × s)
= Exp(a + b × 1,750 + 2 × s)
= Exp(4.0803 + -0.0002 × 1,750 + 2 × 0.1232)
= Exp(3.9591)
= $52.41
Bottom border of price channel:
Exp(Y1,205)
= Exp(a + b × X1,205 – 2 × s)
= Exp(a + b × 1,750 – 2 × s)
= Exp(4.0803 + -0.0002 × 1,750 – 2 × 0.1232)
= Exp(3.4663)
= $32.02
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 7.38% per annum.
- OVV price at the close of May 14, 2024 was $49.78 and was inside the primary price channel.
Secondary Trend
Start date: March 10, 2023
End date: May 14, 2024
a = 2.2541
b = 0.0009
s = 0.0878
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0009) – 1
= 40.52%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0878) – 1
= 42.06%
March 10, 2023 calculations
Top border of price channel:
Exp(Y962)
= Exp(a + b × X962 + 2 × s)
= Exp(a + b × 1,395 + 2 × s)
= Exp(2.2541 + 0.0009 × 1,395 + 2 × 0.0878)
= Exp(3.7297)
= $41.67
Bottom border of price channel:
Exp(Y962)
= Exp(a + b × X962 – 2 × s)
= Exp(a + b × 1,395 – 2 × s)
= Exp(2.2541 + 0.0009 × 1,395 – 2 × 0.0878)
= Exp(3.3786)
= $29.33
May 14, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(2.2541 + 0.0009 × 1,826 + 2 × 0.0878)
= Exp(4.1314)
= $62.26
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(2.2541 + 0.0009 × 1,826 – 2 × 0.0878)
= Exp(3.7803)
= $43.83
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 40.52% per annum.
- OVV price at the close of May 14, 2024 was inside the secondary price channel.