NOV Inc. (NYSE:NOV) Stock Now Rated “Hold” by Sell-Side Brokerages

NOV Inc. (NYSE:NOV) has been given a consensus recommendation of “Hold” by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $21.58.

Several research firms have recently weighed in on NOV. Susquehanna lifted their target price on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research note on Thursday, July 30th. Zacks Research lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Morgan Stanley set a $21.00 price target on shares of NOV in a research note on Wednesday, July 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a report on Monday, September 21st. Finally, TD Cowen lifted their price objective on shares of NOV from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, July 30th.

NOV Stock Performance

NYSE NOV opened at $20.56 on Wednesday. NOV has a 52-week low of $14.30 and a 52-week high of $21.93. The company has a 50-day simple moving average of $20.01 and a 200 day simple moving average of $19.62.

NOV (NYSE:NOV) last released its earnings results on Tuesday, October 27th. The oil and gas exploration company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that NOV will post 0.99 earnings per share for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a dividend of $0.09 per share. The ex-dividend date was Friday, September 11th. This represents a $0.36 annualized dividend and a dividend yield of 1.8%.

Insider Activity at NOV

In other news, Director David Harrison sold 9,594 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $19.21, for a total value of $184,300.74. Following the completion of the transaction, the director directly owned 126,763 shares of the company’s stock, valued at $2,435,117.23. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. VestGen Advisors LLC purchased a new position in shares of NOV during the third quarter valued at approximately $195,000. Moody Aldrich Partners LLC bought a new stake in NOV in the 3rd quarter worth about $253,000. Signaturefd LLC increased its holdings in NOV by 19.7% in the 3rd quarter. Signaturefd LLC now owns 4,939 shares of the oil and gas exploration company’s stock worth $92,000 after buying an additional 813 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in NOV by 237.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 35,772 shares of the oil and gas exploration company’s stock valued at $670,000 after acquiring an additional 25,181 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its stake in NOV by 20.9% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 17,632 shares of the oil and gas exploration company’s stock valued at $330,000 after acquiring an additional 3,047 shares during the period. Institutional investors own 93.27% of the company’s stock.

NOV Company Profile

NOV Inc (NYSE: NOV) is a Houston-based technology and equipment provider serving the global energy industry. The company develops and manufactures products and systems used in oil and natural gas drilling, well construction, completion and production operations.

Its offerings include land and offshore drilling rigs, rig equipment and components, downhole tools, drill pipe, wellbore technologies, pressure-control systems, and equipment used to enhance production. NOV also provides aftermarket parts, technical support, maintenance and other services designed to help energy companies operate and maintain their equipment.

The company was formed in 2005 through the merger of National Oilwell and Varco International, building on businesses with much longer histories in the oilfield equipment industry.