NOV Inc. (NYSE:NOV) Receives $20.00 Consensus Target Price from Analysts

Shares of NOV Inc. (NYSE:NOV) have received an average recommendation of “Hold” from the eighteen research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.47.

Several research firms recently issued reports on NOV. Raymond James increased their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Sandler assumed coverage on shares of NOV in a research note on Thursday, December 19th. They issued a “neutral” rating and a $17.00 price objective for the company. Bank of America cut their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. ATB Capital reissued a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Finally, Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Insider Activity

In related news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On NOV

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 1,612 shares during the last quarter. Quarry LP purchased a new position in NOV during the 3rd quarter worth $36,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in NOV in the fourth quarter valued at $42,000. R Squared Ltd purchased a new stake in shares of NOV in the fourth quarter valued at about $44,000. Finally, International Assets Investment Management LLC boosted its stake in shares of NOV by 1,590.1% during the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 2,735 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Up 0.9 %

NYSE NOV opened at $15.62 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.65. The stock has a market capitalization of $6.08 billion, a P/E ratio of 9.70, a PEG ratio of 1.00 and a beta of 1.64. The firm’s 50-day moving average is $14.91 and its two-hundred day moving average is $16.10. NOV has a 12 month low of $13.94 and a 12 month high of $21.20.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, sell-side analysts anticipate that NOV will post 1.42 earnings per share for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 1.92%. NOV’s payout ratio is currently 18.63%.

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.