Analysts Set NOV Inc. (NYSE:NOV) Target Price at $17.31

Shares of NOV Inc. (NYSE:NOV) have received an average rating of “Hold” from the eighteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.69.

A number of analysts have recently weighed in on NOV shares. Susquehanna reduced their target price on shares of NOV from $18.00 to $17.00 and set a “positive” rating on the stock in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Evercore ISI cut their price target on shares of NOV from $15.00 to $14.00 and set an “in-line” rating on the stock in a report on Wednesday. Royal Bank Of Canada cut their price target on shares of NOV from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Barclays cut their price target on shares of NOV from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th.

Institutional Investors Weigh In On NOV

Several hedge funds have recently modified their holdings of the business. Ethic Inc. lifted its position in shares of NOV by 6.2% in the 2nd quarter. Ethic Inc. now owns 131,384 shares of the oil and gas exploration company’s stock worth $1,673,000 after purchasing an additional 7,697 shares during the period. Privium Fund Management B.V. lifted its position in shares of NOV by 28.4% in the 2nd quarter. Privium Fund Management B.V. now owns 63,876 shares of the oil and gas exploration company’s stock worth $825,000 after purchasing an additional 14,131 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of NOV in the 2nd quarter worth approximately $945,000. Nordea Investment Management AB lifted its position in shares of NOV by 1.8% in the 2nd quarter. Nordea Investment Management AB now owns 182,832 shares of the oil and gas exploration company’s stock worth $2,323,000 after purchasing an additional 3,268 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of NOV in the 2nd quarter worth approximately $880,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock opened at $12.79 on Monday. The company’s 50-day moving average price is $13.03 and its 200-day moving average price is $13.63. NOV has a twelve month low of $10.84 and a twelve month high of $21.20. The company has a quick ratio of 1.76, a current ratio of 2.58 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.81 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 3.44 and a beta of 1.28.

NOV (NYSE:NOV) last posted its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). NOV had a return on equity of 7.25% and a net margin of 5.36%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities research analysts forecast that NOV will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were given a $0.21 dividend. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 3.63%. NOV’s payout ratio is presently 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.