NOV (NOV) – Research Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for NOV (NYSE: NOV):

• 11/14/2023 – NOV was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/6/2023 – NOV was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/30/2023 – NOV had its price target raised by analysts at Royal Bank of Canada from $23.00 to $24.00. They now have a “sector perform” rating on the stock.
• 10/30/2023 – NOV had its price target raised by analysts at Raymond James from $28.00 to $29.00. They now have an “outperform” rating on the stock.
• 10/17/2023 – NOV was downgraded by analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating. They now have a $20.00 price target on the stock.
• 10/17/2023 – NOV had its price target raised by analysts at Morgan Stanley from $24.00 to $25.00. They now have an “overweight” rating on the stock.
• 10/5/2023 – NOV is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 10/3/2023 – NOV had its price target raised by analysts at Wells Fargo & Company from $20.00 to $21.00. They now have an “equal weight” rating on the stock.

NOV Stock Up 3.8 %

Shares of NYSE NOV opened at $19.45 on Monday. The stock has a market cap of $7.66 billion, a P/E ratio of 15.44, a PEG ratio of 0.28 and a beta of 1.87. The company has a current ratio of 2.39, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. NOV Inc. has a 12-month low of $14.05 and a 12-month high of $24.83. The business’s fifty day simple moving average is $20.09 and its 200-day simple moving average is $18.51.

NOV (NYSE:NOV) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). NOV had a net margin of 6.00% and a return on equity of 9.28%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the business posted $0.08 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. As a group, equities analysts predict that NOV Inc. will post 1.41 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, December 7th. NOV’s dividend payout ratio is presently 15.87%.

Institutional Trading of NOV

A number of hedge funds and other institutional investors have recently bought and sold shares of NOV. Covestor Ltd grew its holdings in shares of NOV by 94.4% during the first quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after buying an additional 625 shares during the last quarter. CENTRAL TRUST Co grew its holdings in shares of NOV by 85.4% during the third quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 580 shares during the last quarter. Ellevest Inc. grew its holdings in shares of NOV by 92.4% during the first quarter. Ellevest Inc. now owns 1,599 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 768 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of NOV during the first quarter worth about $34,000. Finally, Belpointe Asset Management LLC grew its holdings in shares of NOV by 66.0% during the first quarter. Belpointe Asset Management LLC now owns 2,491 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 990 shares during the last quarter. 93.19% of the stock is currently owned by institutional investors and hedge funds.

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.