NOV Inc. (NYSE:NOV) Given Average Rating of “Hold” by Brokerages

NOV Inc. (NYSE:NOV) has earned an average rating of “Hold” from the nineteen brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $19.00.

A number of equities analysts recently weighed in on the company. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price target (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. The Goldman Sachs Group decreased their target price on NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus cut their price target on shares of NOV from $25.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday. Barclays increased their price objective on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Finally, Piper Sandler boosted their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th.

Institutional Trading of NOV

Several large investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its holdings in shares of NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after purchasing an additional 1,034 shares during the period. Covestor Ltd boosted its holdings in NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock valued at $33,000 after purchasing an additional 1,655 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 1,612 shares during the last quarter. Signaturefd LLC increased its holdings in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 756 shares during the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in shares of NOV during the 4th quarter valued at approximately $41,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Price Performance

Shares of NYSE NOV opened at $12.52 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 1.02 and a beta of 1.35. The firm’s 50 day simple moving average is $14.17 and its 200-day simple moving average is $14.98. NOV has a 12 month low of $10.84 and a 12 month high of $21.20.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Analysts expect that NOV will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.40%. NOV’s payout ratio is 18.63%.

NOV Company Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.