OMV (OTCMKTS:OMVKY) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• OMV shares crossed above the 200-day moving average (200‑DMA $15.40), trading as high as $17.96 and last at $17.79, signaling a bullish technical move.
• Multiple brokerages have downgraded the stock and MarketBeat shows a consensus rating of "Reduce" (1 Strong Buy, 3 Hold, 3 Sell).
• OMV reported quarterly EPS of $1.97 versus $0.38 expected (a strong beat) but revenue of $7.14B missed estimates of $7.79B; the stock trades at a low P/E of 2.12 with a market cap around $23.3B.

OMV AG (OTCMKTS:OMVKY - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.40 and traded as high as $17.96. OMV shares last traded at $17.7925, with a volume of 28,178 shares.

Analysts Set New Price Targets

A number of research firms have issued reports on OMVKY. HSBC downgraded shares of OMV from a "hold" rating to a "reduce" rating in a report on Thursday, February 5th. Jefferies Financial Group downgraded shares of OMV from a "strong-buy" rating to a "hold" rating in a report on Friday, March 20th. Zacks Research raised OMV from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 4th. The Goldman Sachs Group downgraded OMV from a "hold" rating to a "sell" rating in a research report on Monday, January 26th. Finally, Royal Bank Of Canada downgraded OMV from a "sector perform" rating to an "underperform" rating in a research report on Thursday, January 29th. One 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.com, the stock currently has a consensus rating of "Reduce".

OMV Stock Down 1.4%

The firm has a market cap of $23.29 billion, a price-to-earnings ratio of 2.12 and a beta of -0.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.50 and a quick ratio of 1.24. The stock has a 50-day moving average of $17.34 and a 200-day moving average of $15.40.

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, topping the consensus estimate of $0.38 by $1.59. OMV had a return on equity of 8.29% and a net margin of 9.63%.The firm had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $7.79 billion. Sell-side analysts predict that OMV AG will post 2.22 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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