NOV Inc. (NYSE:NOV) Given Consensus Recommendation of “Hold” by Brokerages

Shares of NOV Inc. (NYSE:NOV) have earned an average rating of “Hold” from the nineteen ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $19.00.

A number of analysts recently commented on the company. Evercore ISI reiterated an “in-line” rating and set a $18.00 price target (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Susquehanna reduced their price target on shares of NOV from $21.00 to $19.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Barclays increased their target price on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Finally, Raymond James lifted their price objective on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th.

NOV Price Performance

NOV stock opened at $12.34 on Friday. NOV has a 52-week low of $10.84 and a 52-week high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The business has a 50-day simple moving average of $13.82 and a two-hundred day simple moving average of $14.84. The company has a market capitalization of $4.67 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35.

NOV (NYSE:NOV) last announced its earnings results 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%. Research analysts expect that NOV will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.43%. NOV’s dividend payout ratio is presently 18.63%.

Institutional Trading of NOV

Hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its holdings in shares of NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after buying an additional 258,392 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of NOV by 20.8% in the 3rd quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company’s stock worth $339,000 after acquiring an additional 3,645 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of NOV in the 4th quarter valued at $2,514,000. Canandaigua National Bank & Trust Co. grew its holdings in shares of NOV by 3.5% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock valued at $874,000 after purchasing an additional 2,040 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in NOV by 10.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock worth $271,000 after purchasing an additional 1,656 shares during the period. 93.27% of the stock is owned by institutional investors.

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.