NOV Inc. (NYSE:NOV) Given Consensus Rating of “Hold” by Analysts

Shares of NOV Inc. (NYSE:NOV) have been given a consensus rating of “Hold” by the fifteen brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $24.07.

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a research report on Tuesday, February 6th. Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Stifel Nicolaus cut their price objective on shares of NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Piper Sandler cut their price target on NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Finally, Susquehanna reissued a “positive” rating and set a $26.00 price objective on shares of NOV in a report on Monday, April 8th.

NOV Stock Performance

Shares of NYSE NOV opened at $18.54 on Friday. NOV has a 52 week low of $14.05 and a 52 week high of $21.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 2.50. The business’s 50-day simple moving average is $18.71 and its 200-day simple moving average is $19.12. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 0.79 and a beta of 1.74.

NOV (NYSE:NOV) last released its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. NOV had a net margin of 11.23% and a return on equity of 10.21%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that NOV will post 1.54 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s dividend payout ratio (DPR) is currently 8.03%.

Insider Buying and Selling at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the sale, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at $1,990,715.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.85% of the company’s stock.

Institutional Trading of NOV

A number of hedge funds and other institutional investors have recently made changes to their positions in NOV. Pzena Investment Management LLC increased its position in NOV by 12.7% during the first quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock worth $684,618,000 after buying an additional 3,946,504 shares during the last quarter. Montgomery Investment Management Inc. acquired a new position in shares of NOV during the 1st quarter worth approximately $205,000. Janney Montgomery Scott LLC raised its stake in NOV by 41.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,223 shares of the oil and gas exploration company’s stock valued at $375,000 after acquiring an additional 5,646 shares during the period. Retirement Systems of Alabama raised its position in shares of NOV by 5.0% in the first quarter. Retirement Systems of Alabama now owns 968,972 shares of the oil and gas exploration company’s stock valued at $18,914,000 after purchasing an additional 45,798 shares during the period. Finally, Norden Group LLC acquired a new stake in NOV during the first quarter worth approximately $196,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.