NOV Inc. (NYSE:NOV) Receives Average Recommendation of “Moderate Buy” from Analysts

NOV Inc. (NYSE:NOV) has been given an average rating of “Moderate Buy” by the sixteen research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $21.64.

Several research firms have recently commented on NOV. Bank of America lowered their price target on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Stifel Nicolaus dropped their target price on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their price target on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Finally, BMO Capital Markets cut their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th.

Hedge Funds Weigh In On NOV

A number of institutional investors have recently made changes to their positions in the business. Pzena Investment Management LLC boosted its stake in NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after purchasing an additional 7,851,220 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of NOV by 23.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after acquiring an additional 6,963,660 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of NOV by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after acquiring an additional 3,470,860 shares during the last quarter. Bank of New York Mellon Corp increased its position in NOV by 67.2% during the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock worth $188,749,000 after acquiring an additional 3,989,095 shares during the period. Finally, Boston Partners acquired a new position in NOV during the 1st quarter valued at $119,686,000. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Performance

Shares of NOV opened at $15.99 on Wednesday. The company has a market capitalization of $6.22 billion, a PE ratio of 5.90, a PEG ratio of 0.93 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The company’s 50 day moving average price is $16.02 and its 200 day moving average price is $17.47. NOV has a 52 week low of $14.98 and a 52 week high of $21.23.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. NOV’s payout ratio is presently 11.07%.

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.