NOV Inc. (NYSE:NOV) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of NOV Inc. (NYSE:NOV) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $15.5385.

NOV has been the topic of several research analyst reports. Piper Sandler reduced their price objective on NOV from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Stifel Nicolaus increased their target price on shares of NOV from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Zacks Research raised shares of NOV from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $17.00 price objective on shares of NOV in a research report on Tuesday, October 28th. Finally, Royal Bank Of Canada raised their target price on shares of NOV from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th.

Insiders Place Their Bets

In related news, Director Christian S. Kendall bought 70,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the purchase, the director owned 85,949 shares of the company’s stock, valued at $1,242,822.54. This represents a 438.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.08% of the stock is owned by corporate insiders.

Institutional Trading of NOV

Several hedge funds have recently bought and sold shares of the company. Canandaigua National Trust Co of Florida lifted its position in shares of NOV by 114.0% during the 2nd quarter. Canandaigua National Trust Co of Florida now owns 77,394 shares of the oil and gas exploration company’s stock valued at $962,000 after acquiring an additional 41,235 shares during the last quarter. Canandaigua National Bank & Trust Co. lifted its holdings in shares of NOV by 64.9% during the second quarter. Canandaigua National Bank & Trust Co. now owns 101,211 shares of the oil and gas exploration company’s stock valued at $1,258,000 after purchasing an additional 39,848 shares during the last quarter. Empowered Funds LLC boosted its position in shares of NOV by 2,266.9% in the 1st quarter. Empowered Funds LLC now owns 509,555 shares of the oil and gas exploration company’s stock valued at $7,755,000 after purchasing an additional 488,027 shares during the period. Harbor Capital Advisors Inc. increased its stake in NOV by 18.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 804,961 shares of the oil and gas exploration company’s stock worth $10,006,000 after purchasing an additional 127,433 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in NOV by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company’s stock worth $600,627,000 after buying an additional 566,160 shares during the period. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Up 1.8%

NYSE:NOV opened at $15.36 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.55. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 4.73 and a beta of 1.25. NOV has a one year low of $10.84 and a one year high of $16.66. The stock has a 50-day simple moving average of $14.15 and a 200 day simple moving average of $13.32.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. Sell-side analysts predict that NOV will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, December 5th. This represents a $0.30 dividend on an annualized basis and a yield of 2.0%. NOV’s payout ratio is currently 30.00%.

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.