Forex
RBC Boosts Stake in Ovintiv with $47 Million Share Purchase
Financial news reports that Royal Bank of Canada acquired an additional 202,818 shares of Ovintiv Inc. (NYSE:OVV) during the first quarter, increasing its holdings by 34.2%. This brings the total number of shares owned by Royal Bank of Canada to 796,340.
The acquisition is valued at $47,270,000, representing approximately 0.28% of Ovintiv's market capitalization. The company's stock price opened at $62.40 on Monday, with a 12-month low of $35.47 and a high of $64.61.
MarketBeat reports that Ovintiv has a PE ratio of 17.63 and a beta of 0.53, while the company's current ratio is 1.01 and its debt-to-equity ratio is 0.32.