NOV Inc. (NYSE:NOV) Receives $18.00 Average Price Target from Brokerages

NOV Inc. (NYSE:NOV) has been given a consensus recommendation of “Hold” by the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $17.50.

A number of analysts recently weighed in on NOV shares. Stifel Nicolaus lowered their target price on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company upped their target price on shares of NOV from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. Piper Sandler lowered their price objective on shares of NOV from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Royal Bank of Canada lowered their price target on shares of NOV from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Susquehanna lowered their price objective on shares of NOV from $21.00 to $19.00 and set a “positive” rating on the stock in a research note on Monday, April 14th.

Hedge Funds Weigh In On NOV

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its position in NOV by 12,344.0% in the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after acquiring an additional 12,210,514 shares during the period. AQR Capital Management LLC grew its holdings in NOV by 88.9% in the first quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company’s stock worth $107,276,000 after purchasing an additional 3,362,853 shares during the period. First Pacific Advisors LP acquired a new stake in NOV in the fourth quarter worth $39,495,000. Nuveen LLC bought a new position in shares of NOV in the first quarter valued at $33,742,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of NOV by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock valued at $245,178,000 after buying an additional 1,934,243 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Trading Down 0.7%

Shares of NYSE:NOV opened at $12.81 on Wednesday. The firm has a fifty day moving average of $13.09 and a two-hundred day moving average of $14.50. The firm has a market capitalization of $4.81 billion, a P/E ratio of 7.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. NOV has a 12-month low of $10.84 and a 12-month high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last released its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, equities analysts expect that NOV will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, March 14th. NOV’s payout ratio is 20.00%.

About NOV

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.