NOV Inc. (NYSE:NOV) Receives $20.43 Consensus Price Target from Brokerages

Shares of NOV Inc. (NYSE:NOV) have been given an average recommendation of “Hold” by the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $20.50.

NOV has been the topic of several recent analyst reports. Barclays reaffirmed an “underweight” rating and issued a $21.00 price target (up from $20.00) on shares of NOV in a research note on Thursday, May 7th. Susquehanna cut their price objective on NOV from $24.00 to $22.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Royal Bank Of Canada boosted their target price on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Citigroup upped their target price on shares of NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Stifel Nicolaus increased their target price on shares of NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, April 20th.

NOV Stock Up 0.1%

Shares of NOV opened at $19.54 on Monday. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 81.44 and a beta of 0.91. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27. NOV has a 12 month low of $11.77 and a 12 month high of $21.55. The company has a 50-day moving average price of $19.76 and a two-hundred day moving average price of $19.21.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a net margin of 1.05% and a return on equity of 3.34%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts predict that NOV will post 0.9 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently disclosed a special dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.09 per share. This represents a yield of 170.0%. The ex-dividend date of this dividend was Friday, June 12th. NOV’s dividend payout ratio is currently 150.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in NOV by 9.5% during the 2nd quarter. GAMMA Investing LLC now owns 12,407 shares of the oil and gas exploration company’s stock valued at $230,000 after purchasing an additional 1,078 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new position in NOV in the second quarter worth $1,658,000. Empowered Funds LLC grew its holdings in shares of NOV by 2,302.8% during the first quarter. Empowered Funds LLC now owns 325,892 shares of the oil and gas exploration company’s stock worth $6,130,000 after purchasing an additional 312,329 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of NOV by 19.7% during the first quarter. Glenmede Trust Co. NA now owns 12,704 shares of the oil and gas exploration company’s stock worth $239,000 after purchasing an additional 2,094 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of NOV by 17.0% in the first quarter. Bank of America Corp DE now owns 4,575,450 shares of the oil and gas exploration company’s stock valued at $86,064,000 after buying an additional 664,969 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.