OMV (OTCMKTS:OMVKY) Reaches New 52-Week High - Here's Why

Key Points

• OMV shares reached a new 52-week high of $17.83 Wednesday (last $17.66), trading above its 50- and 200-day moving averages of $15.94 and $14.47 on light volume.
• Despite the rally, sell-side sentiment is weak with multiple recent downgrades and a MarketBeat consensus rating of "Reduce" (one Strong Buy, three Hold, three Sell).
• Fundamentals were mixed: OMV reported a significant EPS beat of $1.97 vs. $0.38 expected while revenue missed ($7.14B vs. $7.79B); the stock trades at a P/E of 4.99 with a market cap of $23.18B and a low debt/equity of 0.25.

OMV AG (OTCMKTS:OMVKY - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $17.83 and last traded at $17.66, with a volume of 722 shares. The stock had previously closed at $17.51.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. The Goldman Sachs Group cut shares of OMV from a "hold" rating to a "sell" rating in a report on Monday, January 26th. HSBC lowered shares of OMV from a "hold" rating to a "reduce" rating in a research note on Thursday, February 5th. Jefferies Financial Group lowered shares of OMV from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 20th. Barclays restated an "underweight" rating on shares of OMV in a report on Friday, December 12th. Finally, Royal Bank Of Canada downgraded shares of OMV from a "sector perform" rating to an "underperform" rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, OMV presently has a consensus rating of "Reduce".

OMV Stock Performance

The company has a current ratio of 1.50, a quick ratio of 1.24 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $23.18 billion, a P/E ratio of 4.99 and a beta of 0.01. The business's 50 day simple moving average is $15.94 and its two-hundred day simple moving average is $14.47.

OMV (OTCMKTS:OMVKY - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $1.59. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.79 billion. OMV had a net margin of 4.10% and a return on equity of 8.51%. Sell-side analysts anticipate that OMV AG will post 1.64 EPS for the current fiscal year.

About OMV

OMV AG is an Austrian integrated energy company founded in 1956 and headquartered in Vienna. The firm operates across the oil and gas value chain, with core activities in exploration and production, refining and marketing, petrochemicals, gas trading and storage, and a large retail network of service stations and convenience offerings in Central and Eastern Europe. OMV's business model combines upstream resource development with downstream processing and commercial distribution to supply fuels, lubricants and chemical feedstocks.

In upstream, OMV pursues oil and natural gas exploration and production projects and participates in both onshore and offshore developments.

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