NOV (NYSE:NOV) Given New $22.00 Price Target at Susquehanna

NOV (NYSE:NOV) had its price target raised by Susquehanna from $21.00 to $22.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a positive rating on the oil and gas exploration company’s stock.

NOV has been the subject of a number of other reports. Piper Sandler increased their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 9th. BMO Capital Markets increased their price objective on NOV from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Monday, February 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 price objective on shares of NOV in a report on Thursday, January 15th. Citigroup increased their price objective on NOV from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Finally, Morgan Stanley set a $16.00 price objective on NOV in a report on Monday, December 15th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.64.

NOV Stock Up 3.8%

Shares of NYSE:NOV opened at $19.54 on Tuesday. The company has a fifty day moving average of $19.15 and a 200-day moving average of $16.66. The company has a market capitalization of $7.04 billion, a PE ratio of 51.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.42. NOV has a 52-week low of $10.84 and a 52-week high of $20.85.

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

NOV Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, March 13th. This is an increase from NOV’s previous quarterly dividend of $0.08. NOV’s dividend payout ratio (DPR) is 94.74%.

Insider Transactions at NOV

In other NOV news, VP Craig L. Weinstock sold 70,000 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $20.08, for a total transaction of $1,405,600.00. Following the completion of the sale, the vice president directly owned 256,319 shares in the company, valued at approximately $5,146,885.52. This trade represents a 21.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph W. Rovig sold 151,086 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $20.17, for a total value of $3,047,404.62. Following the sale, the insider owned 269,694 shares of the company’s stock, valued at approximately $5,439,727.98. The trade was 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

Large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in NOV during the 4th quarter worth about $28,000. CIBC Private Wealth Group LLC boosted its position in shares of NOV by 659.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 1,978 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of NOV by 50.1% during the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 780 shares in the last quarter. Allworth Financial LP boosted its position in shares of NOV by 37.9% during the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 709 shares in the last quarter. Finally, CoreFirst Bank & Trust bought a new position in shares of NOV during the 2nd quarter worth about $35,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.