J. Safra Sarasin Holding AG Purchases 12,280 Shares of Ovintiv Inc. (NYSE:OVV)

Key Points

• J. Safra Sarasin Holding AG increased its stake in Ovintiv Inc. by 31.4%, holding 51,400 shares valued at approximately $2.2 million as of the latest SEC filing.
• Analysts have given mixed ratings on Ovintiv, with upgrades from firms like Goldman Sachs and TD Cowen, while Wells Fargo has reduced its price target, leading to a consensus rating of "Buy" with an average target price of $53.47.
• Ovintiv announced a quarterly dividend of $0.30 per share, with an annualized yield of 3.0% and a dividend payout ratio of 53.10%, payable on September 29th.

J. Safra Sarasin Holding AG grew its position in Ovintiv Inc. (NYSE:OVV - Free Report) by 31.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,400 shares of the company's stock after purchasing an additional 12,280 shares during the period. J. Safra Sarasin Holding AG's holdings in Ovintiv were worth $2,200,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of Ovintiv in the 4th quarter valued at $25,272,000. Franklin Resources Inc. boosted its stake in shares of Ovintiv by 62.3% in the 4th quarter. Franklin Resources Inc. now owns 439,769 shares of the company's stock valued at $17,811,000 after purchasing an additional 168,801 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Ovintiv by 11.5% in the 4th quarter. Federated Hermes Inc. now owns 164,796 shares of the company's stock valued at $6,674,000 after purchasing an additional 16,945 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Ovintiv in the 4th quarter valued at $7,773,000. Finally, AXA S.A. raised its holdings in shares of Ovintiv by 56.7% in the fourth quarter. AXA S.A. now owns 21,715 shares of the company's stock valued at $879,000 after buying an additional 7,853 shares during the last quarter. Institutional investors and hedge funds own 83.81% of the company's stock.

Ovintiv Stock Down 0.3%

NYSE OVV traded down $0.12 during trading hours on Tuesday, reaching $39.24. 348,396 shares of the company's stock were exchanged, compared to its average volume of 3,581,294. Ovintiv Inc. has a one year low of $29.80 and a one year high of $47.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.43. The company's 50-day moving average is $39.67 and its two-hundred day moving average is $39.43. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10.

Ovintiv (NYSE:OVV - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.02). The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.92 billion. Ovintiv had a return on equity of 14.24% and a net margin of 6.46%. On average, analysts forecast that Ovintiv Inc. will post 5.59 EPS for the current fiscal year.

Ovintiv Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. Ovintiv's dividend payout ratio is 53.10%.

Wall Street Analyst Weigh In

OVV has been the topic of several research reports. Scotiabank upped their price target on shares of Ovintiv from $48.00 to $51.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. The Goldman Sachs Group upgraded shares of Ovintiv from a "neutral" rating to a "buy" rating and upped their price target for the stock from $47.00 to $51.00 in a research report on Tuesday, July 1st. Citigroup set a $54.00 price target on shares of Ovintiv and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. TD Cowen upgraded shares of Ovintiv to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Morgan Stanley restated an "overweight" rating and set a $50.00 target price on shares of Ovintiv in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $53.47.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.