NOV Inc. (NYSE:NOV) Given Average Recommendation of “Hold” by Analysts

NOV Inc. (NYSE:NOV) has earned an average rating of “Hold” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $24.36.

A number of research analysts have commented on NOV shares. ATB Capital set a $33.00 price target on shares of NOV and gave the company an “outperform” rating in a research report on Friday, December 22nd. Benchmark downgraded NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Stifel Nicolaus cut their price objective on NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. TD Cowen dropped their price target on NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a report on Tuesday, February 6th.

NOV Price Performance

Shares of NYSE NOV opened at $20.38 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40. The stock has a market cap of $8.06 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 0.38 and a beta of 1.74. NOV has a fifty-two week low of $14.05 and a fifty-two week high of $21.91. The stock has a fifty day moving average of $18.23 and a 200-day moving average of $19.26.

NOV (NYSE:NOV) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas exploration company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.41 by $1.10. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.26 billion. NOV had a net margin of 11.57% and a return on equity of 10.79%. NOV’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share. Equities research analysts anticipate that NOV will post 1.54 earnings per share for the current year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s dividend payout ratio is currently 7.97%.

Insider Activity at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the sale, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On NOV

A number of institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky raised its position in shares of NOV by 93.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 134,503 shares of the oil and gas exploration company’s stock valued at $2,811,000 after buying an additional 65,006 shares during the last quarter. Schroder Investment Management Group bought a new stake in NOV in the third quarter worth $13,329,000. Sei Investments Co. boosted its stake in NOV by 31.4% during the third quarter. Sei Investments Co. now owns 620,105 shares of the oil and gas exploration company’s stock worth $12,960,000 after buying an additional 148,099 shares during the period. Fifth Third Bancorp grew its holdings in NOV by 27.8% during the 3rd quarter. Fifth Third Bancorp now owns 4,990 shares of the oil and gas exploration company’s stock valued at $104,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in NOV in the 3rd quarter worth about $4,314,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Company Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.