NOV Inc. (NYSE:NOV) Receives Average Recommendation of “Hold” from Analysts

Shares of NOV Inc. (NYSE:NOV) have been given an average recommendation of “Hold” by the fifteen analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.8333.

Several research firms have issued reports on NOV. Raymond James Financial reaffirmed an “outperform” rating and set a $17.00 price target on shares of NOV in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research report on Monday. Piper Sandler lifted their target price on NOV from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, December 18th. Morgan Stanley set a $16.00 price objective on shares of NOV in a research report on Monday, December 15th. Finally, Barclays upped their target price on shares of NOV from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th.

NOV Price Performance

NYSE:NOV opened at $15.61 on Thursday. NOV has a 52-week low of $10.84 and a 52-week high of $16.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 2.55. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 5.22 and a beta of 0.97. The stock has a fifty day moving average of $15.14 and a 200 day moving average of $13.77.

NOV (NYSE:NOV) last released 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 analysts’ consensus estimates 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 revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, research analysts expect that NOV will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. NOV’s dividend payout ratio (DPR) is 30.00%.

Insider Activity

In other NOV news, Director Christian S. Kendall purchased 70,000 shares of NOV stock in a transaction dated Friday, November 21st. The shares were purchased at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the acquisition, the director owned 85,949 shares in the company, valued at $1,242,822.54. This represents a 438.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.08% of the stock is owned by insiders.

Institutional Investors Weigh In On NOV

Several large investors have recently modified their holdings of the business. Arizona State Retirement System grew its stake in NOV by 0.6% during the 3rd quarter. Arizona State Retirement System now owns 111,185 shares of the oil and gas exploration company’s stock valued at $1,473,000 after purchasing an additional 678 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in NOV by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 116,720 shares of the oil and gas exploration company’s stock valued at $1,547,000 after buying an additional 724 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in NOV by 2.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 29,023 shares of the oil and gas exploration company’s stock worth $385,000 after buying an additional 743 shares during the period. Truist Financial Corp increased its holdings in NOV by 7.6% in the 3rd quarter. Truist Financial Corp now owns 11,759 shares of the oil and gas exploration company’s stock worth $156,000 after buying an additional 827 shares during the period. Finally, NorthRock Partners LLC raised its position in NOV by 8.2% during the 3rd quarter. NorthRock Partners LLC now owns 11,282 shares of the oil and gas exploration company’s stock worth $149,000 after buying an additional 854 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.