OMV (OTCMKTS:OMVKY) Shares Down 5.6% – Here’s What Happened

OMV AG (OTCMKTS:OMVKY)’s stock price dropped 5.6% on Tuesday . The stock traded as low as $16.9250 and last traded at $16.9250. Approximately 1,480 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 16,432 shares. The stock had previously closed at $17.92.

Wall Street Analyst Weigh In

OMVKY has been the subject of several analyst reports. Jefferies Financial Group cut shares of OMV from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Zacks Research cut shares of OMV from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

OMV Stock Performance

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’s 50-day simple moving average is $17.90 and its 200 day simple moving average is $16.15. The stock has a market capitalization of $21.87 billion, a P/E ratio of 1.99 and a beta of -0.08.

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.