Susquehanna Lowers NOV (NYSE:NOV) Price Target to $19.00

NOV (NYSE:NOV) had its target price cut by Susquehanna from $21.00 to $19.00 in a report issued on Monday morning,Benzinga reports. They currently have a positive rating on the oil and gas exploration company’s stock.

A number of other brokerages also recently commented on NOV. The Goldman Sachs Group decreased their price objective on shares of NOV from $16.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Barclays boosted their price target on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Piper Sandler raised their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Raymond James boosted their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, NOV currently has an average rating of “Hold” and a consensus price target of $19.00.

NOV Price Performance

NYSE:NOV opened at $12.08 on Monday. NOV has a 52-week low of $10.84 and a 52-week high of $21.20. The company has a market cap of $4.60 billion, a P/E ratio of 7.50, a P/E/G ratio of 1.02 and a beta of 1.35. 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’s 50-day simple moving average is $14.32 and its 200 day simple moving average is $15.03.

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 (EPS) 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, sell-side analysts forecast that NOV will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.48%. NOV’s dividend payout ratio is presently 18.63%.

Institutional Investors Weigh In On NOV

Large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. lifted its position in shares of NOV by 10.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock valued at $8,489,000 after acquiring an additional 56,665 shares during the period. Greenhaven Associates Inc. lifted its position in NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after purchasing an additional 1,255,666 shares during the period. Barclays PLC grew its stake in NOV by 120.1% during the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after buying an additional 258,392 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in NOV by 10.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after buying an additional 1,656 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of NOV by 5.6% in the 4th quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company’s stock valued at $5,798,000 after buying an additional 20,952 shares in the last quarter. Institutional investors and hedge funds 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.