NOV (NYSE:NOV) Hits New 12-Month Low – Time to Sell?

NOV Inc. (NYSE:NOV)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $13.77 and last traded at $13.84, with a volume of 1216145 shares. The stock had previously closed at $15.30.

Wall Street Analysts Forecast Growth

NOV has been the topic of a number of recent research reports. ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of NOV in a research report on Tuesday, December 10th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James raised their target price on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Piper Sandler upped their price target on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Barclays lifted their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.60.

NOV Stock Performance

The company’s fifty day simple moving average is $14.91 and its two-hundred day simple moving average is $15.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The stock has a market capitalization of $4.54 billion, a P/E ratio of 7.40, a PEG ratio of 1.02 and a beta of 1.34.

NOV (NYSE:NOV) last announced its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. As a group, equities analysts forecast that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.52%. NOV’s payout ratio is presently 18.63%.

Hedge Funds Weigh In On NOV

A number of hedge funds have recently bought and sold shares of the business. Mariner LLC boosted its holdings in NOV by 2.9% in the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company’s stock valued at $353,000 after purchasing an additional 672 shares during the period. Signaturefd LLC raised its position in shares of NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 756 shares in the last quarter. Huntington National Bank boosted its stake in shares of NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after buying an additional 1,034 shares during the period. ProShare Advisors LLC boosted its stake in shares of NOV by 6.1% in the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company’s stock valued at $266,000 after buying an additional 1,042 shares during the period. Finally, Coppell Advisory Solutions LLC grew its position in NOV by 20.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company’s stock worth $106,000 after buying an additional 1,225 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.