NOV Inc. (NYSE:NOV) Receives Consensus Rating of “Hold” from Analysts

Shares of NOV Inc. (NYSE:NOV) have received an average rating of “Hold” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $15.8333.

NOV has been the topic of several recent analyst reports. Barclays raised their price objective on NOV from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Morgan Stanley set a $16.00 price objective on NOV in a report on Monday, December 15th. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a report on Monday. Piper Sandler increased their price target on shares of NOV from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. Finally, The Goldman Sachs Group increased their price objective on NOV from $12.00 to $14.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th.

NOV Price Performance

Shares of NYSE:NOV opened at $15.61 on Thursday. NOV has a twelve month low of $10.84 and a twelve month high of $16.96. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 5.22 and a beta of 0.97. The stock’s 50 day moving average is $15.14 and its 200-day moving average is $13.77. The company has a quick ratio of 1.71, a current ratio of 2.55 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last issued 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%. NOV’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. Sell-side analysts forecast that NOV will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, December 5th. NOV’s payout ratio is currently 30.00%.

Insider Activity

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

Institutional Trading of NOV

Hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its position in NOV by 0.6% during the third 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 buying an additional 678 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of 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 worth $1,547,000 after buying an additional 724 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of 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 valued at $385,000 after acquiring an additional 743 shares during the last quarter. Truist Financial Corp boosted its holdings in NOV by 7.6% during the 3rd quarter. Truist Financial Corp now owns 11,759 shares of the oil and gas exploration company’s stock valued at $156,000 after acquiring an additional 827 shares during the period. Finally, NorthRock Partners LLC boosted its holdings 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 valued at $149,000 after acquiring an additional 854 shares during the period. 93.27% of the stock is owned by institutional investors.

About NOV

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.