OMV (OTCMKTS:OMVKY) Shares Gap Down - Here's Why

Key Points

• OMV shares gapped down premarket from $17.86 to an open of $17.2695 and last traded around $17.29 (down roughly 2.5%) on light volume (~713 shares).
• Several sell-side firms recently downgraded OMV (Jefferies, RBC, Goldman), and MarketBeat shows a consensus rating of Reduce (1 Strong Buy, 3 Hold, 3 Sell).
• Q results mixed: OMV beat EPS expectations ($1.97 vs. $0.38) but missed revenue ($7.14B vs. $7.79B); the stock trades at a low P/E of 4.91 with a market cap of ~$22.8B and debt/equity of 0.25.

OMV AG (OTCMKTS:OMVKY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $17.86, but opened at $17.2695. OMV shares last traded at $17.2916, with a volume of 713 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of OMV from a "strong-buy" rating to a "hold" rating in a report on Friday, March 20th. Royal Bank Of Canada downgraded shares of OMV from a "sector perform" rating to an "underperform" rating in a report on Thursday, January 29th. Zacks Research upgraded shares of OMV from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 4th. Barclays reiterated an "underweight" rating on shares of OMV in a report on Friday, December 12th. Finally, The Goldman Sachs Group downgraded shares of OMV from a "hold" rating to a "sell" rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce".

OMV Stock Down 2.5%

The company has a quick ratio of 1.24, a current ratio of 1.50 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $22.80 billion, a price-to-earnings ratio of 4.91 and a beta of -0.09. The stock's fifty day moving average price is $16.79 and its 200-day moving average price is $14.84.

OMV (OTCMKTS:OMVKY - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $0.38 by $1.59. OMV had a net margin of 4.10% and a return on equity of 8.51%. The business had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $7.79 billion. On average, sell-side analysts predict that OMV AG will post 1.64 earnings per share for the current fiscal 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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