NOV Inc. (NYSE:NOV) Receives $19.60 Consensus Price Target from Analysts

NOV Inc. (NYSE:NOV) has earned an average recommendation of “Hold” from the eighteen research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a 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 $19.60.

A number of equities research analysts have recently weighed in on the stock. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Barclays raised their target price on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Raymond James upped their price target on shares of NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Evercore ISI reissued an “in-line” rating and set a $18.00 price objective (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, Piper Sandler upped their target price on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th.

Institutional Trading of NOV

A number of institutional investors have recently bought and sold shares of NOV. Huntington National Bank raised its position in shares of NOV by 88.7% in the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after acquiring an additional 1,034 shares in the last quarter. Covestor Ltd grew its stake in NOV by 282.9% during the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after purchasing an additional 1,655 shares during the period. UMB Bank n.a. increased its holdings in NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 1,612 shares in the last quarter. Quarry LP acquired a new stake in shares of NOV during the 3rd quarter worth approximately $36,000. Finally, Signaturefd LLC increased its stake in shares of NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 756 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Stock Down 2.1 %

NYSE NOV opened at $14.96 on Tuesday. The business has a fifty day moving average price of $15.00 and a two-hundred day moving average price of $15.39. The stock has a market capitalization of $5.70 billion, a PE ratio of 9.29, a PEG ratio of 1.02 and a beta of 1.66. NOV has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Equities analysts expect that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, March 14th. NOV’s dividend payout ratio is presently 18.63%.

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.