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

OMV AG (OTCMKTS:OMVKY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $18.51, but opened at $17.77. OMV shares last traded at $17.79, with a volume of 5,467 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research lowered OMV from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Three analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, OMV has an average rating of “Strong Sell”.

OMV Price Performance

The company’s 50-day simple moving average is $17.30 and its 200 day simple moving average is $16.80. 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 stock has a market capitalization of $23.24 billion, a price-to-earnings ratio of 2.11 and a beta of -0.07.

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.