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

NOV Inc. (NYSE:NOV) has been given an average recommendation of “Hold” by the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $19.47.

NOV has been the topic of several analyst reports. Raymond James increased their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada raised their target price on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Thursday. Susquehanna lowered their price objective on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company cut their target price on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th.

Insider Transactions at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On NOV

Hedge funds have recently modified their holdings of the business. Quarry LP acquired a new stake in NOV in the 3rd quarter valued at about $36,000. UMB Bank n.a. increased its holdings in shares of NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in NOV during the fourth quarter worth approximately $42,000. International Assets Investment Management LLC boosted its stake in 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 last quarter. Finally, Brooklyn Investment Group purchased a new stake in NOV in the 3rd quarter valued at $48,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Trading Up 0.9 %

Shares of NYSE:NOV opened at $15.62 on Monday. The business has a 50-day moving average price of $14.91 and a 200-day moving average price of $16.10. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.00 and a beta of 1.64. NOV has a 52-week low of $13.94 and a 52-week high of $21.20. The company has a quick ratio of 1.65, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Equities analysts predict that NOV will post 1.42 EPS for the current year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.92%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

About NOV

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.