NOV Inc. (NYSE:NOV) Given Consensus Rating of “Hold” by Analysts

NOV Inc. (NYSE:NOV) has been assigned a consensus rating of “Hold” from the seventeen research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $18.5714.

A number of analysts recently commented on NOV shares. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research note on Monday, December 29th. Citigroup raised their price target on shares of NOV from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Evercore set a $19.00 price objective on shares of NOV in a research note on Friday, February 6th. Piper Sandler upped their target price on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, Argus upgraded NOV to a “hold” rating in a research note on Tuesday, February 10th.

NOV Trading Up 2.1%

NOV stock opened at $18.96 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.42. The stock has a market cap of $6.83 billion, a PE ratio of 49.91 and a beta of 0.89. The stock has a 50-day moving average of $18.54 and a two-hundred day moving average of $15.80. NOV has a one year low of $10.84 and a one year high of $20.85.

NOV (NYSE:NOV) last issued its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). NOV had a return on equity of 3.57% and a net margin of 1.66%.The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. NOV’s revenue was down 1.3% on a year-over-year basis. On average, research analysts anticipate that NOV will post 1.4 EPS for the current fiscal year.

NOV Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.09 dividend. This is a boost from NOV’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, March 13th. NOV’s dividend payout ratio is currently 78.95%.

Insider Activity

In related news, VP Craig L. Weinstock sold 70,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $20.08, for a total value of $1,405,600.00. Following the transaction, the vice president owned 256,319 shares in the company, valued at approximately $5,146,885.52. This represents a 21.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph W. Rovig sold 151,086 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the transaction, the insider directly owned 269,694 shares of the company’s stock, valued at $5,439,727.98. This represents a 35.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.85% of the company’s stock.

Institutional Trading of NOV

A number of hedge funds and other institutional investors have recently made changes to their positions in NOV. V Square Quantitative Management LLC acquired a new position in NOV during the fourth quarter valued at $28,000. CoreFirst Bank & Trust acquired a new stake in NOV during the 2nd quarter worth about $35,000. CIBC Private Wealth Group LLC lifted its holdings in shares of NOV by 659.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after buying an additional 1,978 shares during the period. Rothschild Investment LLC lifted its holdings in shares of NOV by 50.1% in the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 780 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of NOV by 37.9% in the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after buying an additional 709 shares during the last quarter. Institutional investors and hedge funds 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.