Susquehanna Issues Pessimistic Forecast for NOV (NYSE:NOV) Stock Price

NOV (NYSE:NOV) had its target price dropped by research analysts at Susquehanna from $21.00 to $19.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas exploration company’s stock. Susquehanna’s price target would suggest a potential upside of 58.00% from the company’s current price.

A number of other equities analysts have also weighed in on NOV. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Raymond James increased their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. The Goldman Sachs Group lowered their target price on shares of NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, Piper Sandler boosted their price target on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NOV has a consensus rating of “Hold” and a consensus price target of $19.00.

NOV Trading Down 0.0 %

Shares of NYSE:NOV opened at $12.03 on Monday. The stock has a 50 day moving average of $14.39 and a 200 day moving average of $15.05. The company has a market cap of $4.58 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. NOV has a 12-month low of $10.84 and a 12-month high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, equities research analysts expect that NOV will post 1.4 EPS for the current year.

Hedge Funds Weigh In On NOV

Several hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after buying an additional 1,034 shares during the period. Covestor Ltd lifted its stake in shares of NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after acquiring an additional 1,655 shares during the last quarter. UMB Bank n.a. boosted its holdings in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 1,612 shares during the period. Signaturefd LLC grew its position in NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 756 shares during the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in NOV in the fourth quarter worth $41,000. 93.27% of the stock is currently owned by institutional investors.

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.