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

Shares of NOV Inc. (NYSE:NOV) have been given a consensus recommendation of “Hold” by the sixteen analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $16.9231.

NOV has been the subject of several analyst reports. Cowen restated a “buy” rating on shares of NOV in a report on Wednesday, January 7th. Citigroup raised their price objective on shares of NOV from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research report on Monday, December 29th. Susquehanna increased their price target on NOV from $17.00 to $20.00 and gave the stock a “positive” rating in a report on Wednesday, January 7th. Finally, Raymond James Financial restated an “outperform” rating and set a $17.00 price objective on shares of NOV in a report on Tuesday, October 28th.

Insider Buying and Selling

In related news, Director Christian S. Kendall purchased 70,000 shares of NOV stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $14.46 per share, with a total value of $1,012,200.00. Following the purchase, the director directly owned 85,949 shares of the company’s stock, valued at approximately $1,242,822.54. This represents a 438.90% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NOV

A number of institutional investors and hedge funds have recently bought and sold shares of NOV. CoreFirst Bank & Trust purchased a new stake in shares of NOV in the 2nd quarter worth approximately $35,000. UMB Bank n.a. lifted its holdings in NOV by 114.1% during the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 1,657 shares during the period. Hantz Financial Services Inc. boosted its position in NOV by 395.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 2,921 shares in the last quarter. Signaturefd LLC increased its holdings in shares of NOV by 33.2% in the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 931 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of NOV by 123.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,379 shares of the oil and gas exploration company’s stock worth $67,000 after acquiring an additional 2,975 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Price Performance

Shares of NOV stock opened at $18.00 on Monday. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 4.78 and a beta of 0.95. 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 stock has a 50 day moving average price of $16.01 and a 200-day moving average price of $14.19. NOV has a one year low of $10.84 and a one year high of $18.22.

NOV (NYSE:NOV) last issued its quarterly earnings results 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 return on equity of 5.89% and a net margin of 4.36%.NOV’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. Equities analysts expect that NOV will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, December 5th. NOV’s payout ratio is currently 30.00%.

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.