NOV Inc. (NYSE:NOV) Given Consensus Recommendation of “Hold” by Brokerages

Shares of NOV Inc. (NYSE:NOV) have been assigned an average recommendation of “Hold” from the nineteen research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.00.

NOV has been the topic of several research analyst reports. Piper Sandler increased their price objective on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Susquehanna decreased their price objective on NOV from $21.00 to $19.00 and set a “positive” rating for the company in a report on Monday, April 14th. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Evercore ISI reiterated an “in-line” rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Finally, Barclays upped their target price on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th.

NOV Trading Up 3.9 %

NOV opened at $12.52 on Friday. NOV has a one year low of $10.84 and a one year high of $21.20. 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 has a market cap of $4.74 billion, a price-to-earnings ratio of 7.77, a P/E/G ratio of 1.02 and a beta of 1.35. The stock’s 50 day moving average price is $14.17 and its 200-day moving average price is $14.98.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts forecast that NOV will post 1.4 EPS for the current year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.40%. NOV’s dividend payout ratio is currently 18.63%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NOV. QRG Capital Management Inc. boosted its position in NOV by 12.1% in the first quarter. QRG Capital Management Inc. now owns 26,928 shares of the oil and gas exploration company’s stock valued at $410,000 after buying an additional 2,896 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of NOV by 382.9% in the first quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company’s stock worth $277,000 after acquiring an additional 14,432 shares during the period. Hennessy Advisors Inc. raised its holdings in shares of NOV by 52.4% during the first quarter. Hennessy Advisors Inc. now owns 50,900 shares of the oil and gas exploration company’s stock worth $775,000 after purchasing an additional 17,500 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in NOV by 62.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 56,539 shares of the oil and gas exploration company’s stock valued at $861,000 after purchasing an additional 21,813 shares during the period. Finally, CX Institutional purchased a new stake in NOV in the first quarter valued at $42,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

About NOV

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.