Zacks Investment Research upgraded shares of OMV AG (OTCMKTS:OMVJF) from a strong sell rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “OMV Aktiengesellschaft (OMV AG) is an Austria-based integrated oil and gas company. It operates through two segments: Upstream and Downstream. The Upstream segment focuses on the exploration, development and production of oil and gas in three core regions: Central and Eastern Europe (CEE), the North Sea, as well as the Middle East and Africa. The Downstream segment comprises two business units: Downstream Oil, that operates around 3,800 filling stations in approximately 10 countries, refineries in Austria and Germany, both of which feature integrated petrochemical production, as well as the Petrobrazi refinery in Romania, which processes predominantly Romanian crude oil, and Downstream Gas, that focuses on gas trade and sales, as well as owns a pipeline network and gas storage facilities in Austria. “
Shares of OMV AG (OTCMKTS OMVJF) remained flat at $59.85 during mid-day trading on Wednesday. OMV AG has a 12 month low of $33.25 and a 12 month high of $59.85. The stock has a 50-day moving average price of $58.20 and a 200-day moving average price of $53.31. The stock’s market capitalization is $19.55 billion.
About OMV AG
OMV Aktiengesellschaft operates as an integrated oil and gas company. It operates in two segments, Upstream and Downstream. The Upstream segment explores for, develops, and produces oil and gas resources primarily in Romania and Black Sea, Austria, North Sea, Australasia, the Middle East, and Africa.