NOV Inc. (NYSE:NOV) Given Average Recommendation of “Hold” by Analysts

NOV Inc. (NYSE:NOV) has been assigned a consensus rating of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $24.07.

Several research firms have recently commented on NOV. Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Stifel Nicolaus decreased their target price on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 5th. Raymond James reduced their price target on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. TD Cowen dropped their price objective on shares of NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Finally, StockNews.com raised shares of NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st.

NOV Stock Performance

Shares of NOV opened at $18.54 on Friday. NOV has a 12 month low of $14.05 and a 12 month high of $21.91. The stock has a fifty day moving average price of $18.71 and a 200-day moving average price of $19.12. The company has a current ratio of 2.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.28. The firm has a market cap of $7.33 billion, a PE ratio of 7.45, a P/E/G ratio of 0.79 and a beta of 1.74.

NOV (NYSE:NOV) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a return on equity of 10.21% and a net margin of 11.23%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. Equities research analysts predict that NOV will post 1.54 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s payout ratio is 8.03%.

Insiders Place Their Bets

In other news, CAO Christy Lynn Novak sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the sale, the chief accounting officer now owns 114,212 shares in the company, valued at $1,990,715.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NOV

Institutional investors have recently added to or reduced their stakes in the business. CENTRAL TRUST Co lifted its stake in shares of NOV by 85.4% in the third quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 580 shares during the period. Rise Advisors LLC purchased a new stake in shares of NOV during the 1st quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in shares of NOV in the 1st quarter worth approximately $39,000. Bruce G. Allen Investments LLC purchased a new position in NOV in the 4th quarter valued at approximately $49,000. Finally, GAMMA Investing LLC acquired a new position in NOV during the fourth quarter worth $61,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Company Profile

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.