NOV Inc. (NYSE:NOV – Get Rating) has been given a consensus rating of “Hold” by the nineteen analysts that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.67.
NOV has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on NOV from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Thursday, March 31st. COKER & PALMER cut NOV from a “sector perform” rating to a “sector underperform” rating in a research note on Monday, February 7th. The Goldman Sachs Group cut NOV from a “neutral” rating to a “sell” rating and set a $16.00 price target for the company. in a research note on Wednesday, February 23rd. Susquehanna lowered their price target on NOV from $23.00 to $22.00 in a research note on Monday, February 7th. Finally, Bank of America cut NOV from a “buy” rating to an “underperform” rating in a research note on Friday, March 11th.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in NOV by 38.4% during the 3rd quarter. BlackRock Inc. now owns 34,167,709 shares of the oil and gas exploration company’s stock worth $447,937,000 after acquiring an additional 9,485,235 shares during the last quarter. State Street Corp boosted its position in NOV by 2.3% during the 4th quarter. State Street Corp now owns 13,492,407 shares of the oil and gas exploration company’s stock worth $182,822,000 after acquiring an additional 299,916 shares during the last quarter. Van ECK Associates Corp boosted its position in NOV by 7.2% during the 3rd quarter. Van ECK Associates Corp now owns 8,611,544 shares of the oil and gas exploration company’s stock worth $112,897,000 after acquiring an additional 577,427 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in NOV by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,540,241 shares of the oil and gas exploration company’s stock worth $102,170,000 after acquiring an additional 293,623 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in NOV during the 3rd quarter worth approximately $79,050,000. Institutional investors and hedge funds own 94.96% of the company’s stock.
NOV (NYSE:NOV – Get Rating) last announced its quarterly earnings data on Thursday, February 3rd. The oil and gas exploration company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.03). The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.46 billion. NOV had a negative return on equity of 3.65% and a negative net margin of 4.53%. During the same period in the prior year, the firm posted ($0.42) earnings per share. As a group, equities analysts predict that NOV will post 0.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were given a $0.05 dividend. The ex-dividend date was Thursday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.97%. NOV’s dividend payout ratio is presently -30.77%.
NOV Company Profile (Get Rating)
NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
- Get a free copy of the StockNews.com research report on NOV (NOV)
- UiPath Stock is Nearing Rock Bottom Down Here
- Array Technologies Stock Giving Another Ground Floor Entry
- 3 Undervalued S&P 500 Stocks to Buy Now
- 3 Undervalued Easter Eggs to Watch For This Earnings Season
- Lululemon Rises On Wave Of Price Target Increases
Receive News & Ratings for NOV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOV and related companies with MarketBeat.com's FREE daily email newsletter.