OMV (OTCMKTS:OMVKY) Sees Large Volume Increase - Here's What Happened

Key Points

• Trading spike and price drop: OMV saw unusually high mid-day volume of ~33,220 shares (up 213% from the prior session) while the stock traded around $17.87, down roughly 4.5% from the previous close.
• Analyst downgrades and consensus: Several major firms (Goldman Sachs, RBC, HSBC, Barclays, Jefferies) have cut or lowered ratings on OMV, and MarketBeat shows a consensus rating of "Reduce."
• Earnings beat but revenue miss: OMV reported $1.97 EPS for the quarter versus $0.38 expected (a large beat) while quarterly revenue was $7.14 billion, below the $7.79 billion consensus.

OMV AG (OTCMKTS:OMVKY - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 33,220 shares were traded during mid-day trading, an increase of 213% from the previous session's volume of 10,620 shares.The stock last traded at $17.8712 and had previously closed at $18.56.

Wall Street Analyst Weigh In

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

OMV Stock Down 4.5%

The firm has a 50 day moving average of $16.67 and a two-hundred day moving average of $14.80. The stock has a market capitalization of $23.20 billion, a PE ratio of 4.99 and a beta of -0.09. The company has a current ratio of 1.50, a quick ratio of 1.24 and a debt-to-equity ratio of 0.25.

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

OMV Company Profile

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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