Two executives at two oil and gas operations active in Oklahoma cashed out on the impact of high crude oil prices that bumped industry shares upward and sold more than $2 million in shares. The executives are with Ovintiv Inc. and Coterra Energy.
Ovintiv Director Thomas G. Ricks of Austin, Texas sold more than $1 million of shares in the Denver, Colorado-based company that has extensive operations throughout Oklahoma.
A company filing with the Securities and Exchange commission showed Ricks sold 19,231 shares of Ovintiv Inc. at a price of $59.50 per share. The total sale amounted to $1,144,244.50.
As of Wednesday, Ovintiv shares traded at $61.41 following a 55-cent drop for the day. In the past year, the company shares rose nearly 75%. Ovintiv traded at $26.30 a share one year ago.
Ricks has been an independent director with Ovintiv since 2019. He previously was the chief investment officer for H&S Ventures L.L.C. from 2001 to 2018 and also served as a director at Newfield Exploration Company from 1992 to 2019.
Ricks also held the position of chief executive office for The University of Texas Investment Management Company; vice chancellor, asset management for The University of Texas System; and as executive director of Finance and Private Investments.
The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.40 to $35.45,
inclusive.
A filing with the SEC by Coterra Energy of Houston revealed Stephen P. Bell, Executive Vice President of Business Development sold 36,327 shares for a total of $1,286,339.07.
The price reported was a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.40 to $35.45 according to the SEC filing.
Bell is the Executive Vice President for Business Development at Coterra, following his tenure at Cimarex Energy. At Cimarex, he was appointed Senior Vice President of Business Development and Land in September 2002 and was named Executive Vice President of Business Development in September 2012.
Prior to its merger with Cimarex, Bell was with Key Production Company, Inc. He joined Key in 1994 as Vice President of Land and was appointed Senior Vice President of Business Development and Land in 1999.
