NOV (NYSE:NOV) Reaches New 1-Year Low – Should You Sell?

NOV Inc. (NYSE:NOV) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.81 and last traded at $13.93, with a volume of 69854 shares. The stock had previously closed at $14.21.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOV. Piper Sandler raised their price target on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Barclays increased their price objective on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Royal Bank of Canada boosted their price objective on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Evercore ISI restated an “in-line” rating and set a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Finally, Raymond James upped their target price on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.60.

NOV Stock Performance

The business’s fifty day moving average is $15.01 and its two-hundred day moving average is $15.74. The stock has a market capitalization of $5.33 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS 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%. As a group, research analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.14%. NOV’s payout ratio is 18.63%.

Hedge Funds Weigh In On NOV

Large investors have recently bought and sold shares of the business. Huntington National Bank lifted its position in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,034 shares during the last quarter. Covestor Ltd increased its stake in NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 1,655 shares during the period. UMB Bank n.a. lifted its holdings in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 1,612 shares in the last quarter. Quarry LP purchased a new stake in NOV in the 3rd quarter valued at about $36,000. Finally, Signaturefd LLC grew its stake in NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 756 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.