NOV (NYSE:NOV) Price Target Lowered to $13.00 at The Goldman Sachs Group

NOV (NYSE:NOV) had its target price trimmed by The Goldman Sachs Group from $16.00 to $13.00 in a research report released on Thursday,Benzinga reports. The firm currently has a sell rating on the oil and gas exploration company’s stock.

Several other analysts have also commented on NOV. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Monday, March 24th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Raymond James upped their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Barclays lifted their target price on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, NOV presently has a consensus rating of “Hold” and a consensus price target of $19.19.

NOV Price Performance

NOV opened at $11.86 on Thursday. The firm has a market capitalization of $4.52 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. 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 business’s 50-day moving average is $14.54 and its two-hundred day moving average is $15.11. NOV has a 1 year low of $10.84 and a 1 year high of $21.20.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently declared 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. This represents a $0.30 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, March 14th. NOV’s dividend payout ratio is currently 18.63%.

Institutional Trading of NOV

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOV. Harbor Capital Advisors Inc. increased its holdings in NOV by 10.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock worth $8,489,000 after acquiring an additional 56,665 shares in the last quarter. Greenhaven Associates Inc. increased its stake in shares of NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after purchasing an additional 1,255,666 shares in the last quarter. Barclays PLC raised its position in shares of NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after purchasing an additional 258,392 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of NOV by 10.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after acquiring an additional 1,656 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in NOV by 5.6% in the 4th quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company’s stock valued at $5,798,000 after purchasing an additional 20,952 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.