NOV Inc. (NYSE:NOV) Given Consensus Rating of “Hold” by Brokerages

Shares of NOV Inc. (NYSE:NOV) have been given an average recommendation of “Hold” by the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $16.9231.

NOV has been the topic of a number of research reports. Piper Sandler raised their target price on shares of NOV from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Monday, December 29th. Citigroup boosted their price objective on NOV from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Barclays raised their target price on NOV from $13.00 to $15.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. Finally, Zacks Research raised shares of NOV from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th.

NOV Trading Down 0.4%

Shares of NOV stock opened at $18.42 on Monday. NOV has a fifty-two week low of $10.84 and a fifty-two week high of $19.22. The firm has a market capitalization of $6.72 billion, a P/E ratio of 18.42, a PEG ratio of 4.88 and a beta of 0.95. The stock’s fifty day moving average is $16.27 and its two-hundred day moving average is $14.36. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 2.55.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. Research analysts expect that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.30 annualized dividend and a dividend yield of 1.6%. NOV’s dividend payout ratio is 30.00%.

Insider Activity at NOV

In other NOV news, Director Christian S. Kendall acquired 70,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the acquisition, the director owned 85,949 shares of the company’s stock, valued at approximately $1,242,822.54. The trade was a 438.90% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Gateway Investment Advisers LLC boosted its position in shares of NOV by 1,845.9% during the third quarter. Gateway Investment Advisers LLC now owns 235,081 shares of the oil and gas exploration company’s stock worth $3,115,000 after buying an additional 223,000 shares during the period. Voya Investment Management LLC lifted its stake in NOV by 239.0% during the 3rd quarter. Voya Investment Management LLC now owns 141,506 shares of the oil and gas exploration company’s stock worth $1,875,000 after acquiring an additional 99,765 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in NOV by 111.3% during the 2nd quarter. Hsbc Holdings PLC now owns 476,044 shares of the oil and gas exploration company’s stock valued at $6,006,000 after acquiring an additional 250,705 shares during the period. Vest Financial LLC increased its stake in NOV by 31.7% during the third quarter. Vest Financial LLC now owns 379,056 shares of the oil and gas exploration company’s stock worth $5,022,000 after purchasing an additional 91,272 shares during the period. Finally, Canandaigua National Bank & Trust Co. lifted its position in shares of NOV by 76.7% during the third quarter. Canandaigua National Bank & Trust Co. now owns 178,816 shares of the oil and gas exploration company’s stock worth $2,369,000 after purchasing an additional 77,605 shares in the last quarter. Hedge funds and other 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.