Its stock has continued its downward trend in recent days Motor Oilwhich is now decreasing less than 25 eurosfor the first time since January 18, 2024.
This is the sign of the current meeting Stock Exchange of Athens the listed title records drop more than 1.5%, as a result of which it is limited to 24.7 euros and 5 months down.
The daily trading turnover was estimated at 3.0 million euros, as 87,730 lots changed hands at 2:00 pm.
As long as nothing changes at the end of the day, Motor Oil will top up 3rd consecutive bearish sessionwith a total loss in the last 30 days of up to 10%.
13% correction from peaks
And all this, while on May 23 the stock “caught” it long time of 28.5 euros. This means that the Correction from this year’s peaks exceeded 13%.
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Let’s not forget, however, that despite the ongoing recovery, the stock of Motor Oil remains the number of best level ever.
As for the reasons for this failure, in fact the low trend in international prices wool plays an important role as it limits the refining margins.
At the same time, the intention of some investors liquidation a part of great income in the end time comes to intensify the pressures.
The stock is attractive
In any case, it’s still Motor Oil it costs 2.7 billion eurosboasts a very attractive valuation given that the earnings multiple ratio P/E just ranges from 3.5x.
on June 19no, tactics will be called General Assembly that the main topic of discussion is the approval of the proposal dividend – a record of 1.8 euros/share for fiscal year 2023.
And all this, while the management of the listed company is in the final stage for its acquisition Electricianfurther penetration of the circular economy and waste management sector.
It should be noted that based on the estimates of eight analysts, the average value – target as the stock is placed in 29 eurosie at a level 19% higher than today.