OMV (OTCMKTS:OMVKY) Reaches New 12-Month High – Here’s Why

Shares of OMV AG (OTCMKTS:OMVKY) reached a new 52-week high during trading on Monday . The company traded as high as $18.70 and last traded at $18.70, with a volume of 11544 shares trading hands. The stock had previously closed at $18.33.

Wall Street Analysts Forecast Growth

OMVKY has been the topic of several recent research reports. HSBC cut OMV from a “hold” rating to a “reduce” rating in a report on Thursday, February 5th. Zacks Research upgraded OMV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Jefferies Financial Group lowered OMV from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Royal Bank Of Canada cut OMV from a “sector perform” rating to an “underperform” rating in a report on Thursday, January 29th. Finally, The Goldman Sachs Group downgraded OMV from a “hold” rating to a “sell” rating in a research note on Monday, January 26th. One investment 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, the company currently has an average rating of “Reduce”.

OMV Stock Up 1.6%

The firm has a 50-day moving average of $17.54 and a two-hundred day moving average of $15.60. 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 $24.39 billion, a PE ratio of 2.22 and a beta of -0.09.

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.