NOV (NYSE:NOV) Price Target Lowered to $12.00 at Barclays

NOV (NYSE:NOV) had its price objective trimmed by Barclays from $16.00 to $12.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an underweight rating on the oil and gas exploration company’s stock.

A number of other analysts also recently issued reports on the stock. TD Cowen decreased their price objective on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. ATB Capital restated a “sector perform” rating and set a $19.00 price target on shares of NOV in a research note on Tuesday, December 10th. Bank of America dropped their price objective on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Stifel Nicolaus lowered their target price on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NOV presently has an average rating of “Hold” and an average price target of $20.14.

NOV Stock Up 0.6 %

NOV traded up $0.08 during mid-day trading on Wednesday, reaching $14.27. 1,040,594 shares of the stock were exchanged, compared to its average volume of 3,725,434. The company has a 50 day moving average price of $15.74 and a two-hundred day moving average price of $17.02. The stock has a market capitalization of $5.55 billion, a PE ratio of 5.27, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. NOV has a 1 year low of $14.09 and a 1 year high of $21.23.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, December 6th. NOV’s payout ratio is presently 11.07%.

Insider Transactions at NOV

In related news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the transaction, the director now owns 110,951 shares of the company’s stock, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NOV. Tidal Investments LLC raised its position in shares of NOV by 20.8% in the third quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company’s stock worth $339,000 after buying an additional 3,645 shares in the last quarter. Barclays PLC increased its stake in NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after acquiring an additional 258,392 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of NOV in the 3rd quarter valued at about $1,713,000. XTX Topco Ltd purchased a new position in shares of NOV during the third quarter worth about $955,000. Finally, Wolverine Trading LLC grew its holdings in shares of NOV by 29.1% during the third quarter. Wolverine Trading LLC now owns 17,688 shares of the oil and gas exploration company’s stock worth $283,000 after purchasing an additional 3,988 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.