NOV (NYSE:NOV) Raised to Hold at Evercore

NOV (NYSE:NOV) was upgraded by equities research analysts at Evercore to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on NOV. BMO Capital Markets upped their target price on NOV from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Monday, February 9th. Citigroup upped their target price on NOV from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Barclays raised NOV from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $15.00 to $20.00 in a report on Wednesday, February 4th. The Goldman Sachs Group increased their price objective on NOV from $17.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, March 4th. Finally, Argus raised NOV to a “hold” rating in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.29.

NOV Stock Down 1.5%

NYSE:NOV opened at $20.45 on Wednesday. The firm has a market capitalization of $7.34 billion, a PE ratio of 85.22 and a beta of 0.94. The stock has a 50 day moving average of $19.41 and a 200-day moving average of $17.38. NOV has a 52 week low of $11.55 and a 52 week high of $20.93. The company has a current ratio of 2.47, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last posted its earnings results on Monday, April 27th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.12). The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. Analysts predict that NOV will post 0.98 EPS for the current year.

Insider Buying and Selling

In other NOV news, VP Craig L. Weinstock sold 70,000 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $20.08, for a total transaction of $1,405,600.00. Following the completion of the transaction, the vice president directly owned 256,319 shares of the company’s stock, valued at approximately $5,146,885.52. This trade represents a 21.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph W. Rovig sold 151,086 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $20.17, for a total value of $3,047,404.62. Following the transaction, the insider directly owned 269,694 shares of the company’s stock, valued at approximately $5,439,727.98. The trade was a 35.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.15% of the company’s stock.

Hedge Funds Weigh In On NOV

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beirne Wealth Consulting Services LLC bought a new position in NOV during the 1st quarter valued at $211,000. Hsbc Holdings PLC boosted its stake in NOV by 176.9% during the 1st quarter. Hsbc Holdings PLC now owns 445,988 shares of the oil and gas exploration company’s stock valued at $8,483,000 after purchasing an additional 284,948 shares in the last quarter. Summit Securities Group LLC bought a new position in NOV during the 1st quarter valued at $40,000. Oregon Public Employees Retirement Fund boosted its stake in NOV by 1.9% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 73,920 shares of the oil and gas exploration company’s stock valued at $1,390,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Lee Danner & Bass Inc. boosted its stake in NOV by 55.3% during the 1st quarter. Lee Danner & Bass Inc. now owns 280,800 shares of the oil and gas exploration company’s stock valued at $5,282,000 after purchasing an additional 100,000 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Key Headlines Impacting NOV

Here are the key news stories impacting NOV this week:

• Positive Sentiment: TD Cowen upgraded NOV from “hold” to “strong-buy,” which can boost investor interest and buying pressure following the firm’s coverage change. TD Cowen Upgrade (via Zacks)
• Neutral Sentiment: Recent earnings-call writeups summarize management commentary on Q1 operational challenges and strategic opportunities — mixed messaging that may limit immediate conviction until guidance or trendlines are clearer. Earnings Call Summary
• Neutral Sentiment: Additional earnings call highlights provide color on how NOV is navigating market headwinds and potential pockets of demand — useful for tracking whether margins or backlog improve in coming quarters. Earnings Call Highlights
• Negative Sentiment: Q1 results missed expectations: NOV reported $0.05 EPS vs. consensus roughly $0.17 and revenue modestly below estimates, with year-over-year revenue decline — a headline that likely pressured sentiment following the April 27 release.
• Negative Sentiment: Unusual options activity: traders bought ~2,616 put contracts (a ~1,353% jump vs. average), indicating increased bearish bets or hedging demand that can amplify downside pressure on the stock.
• Neutral Sentiment: Key balance-sheet/valuation context: market cap ~$7.3B, PE ~85, debt/equity ~0.27, and liquidity ratios are solid — these longer-term fundamentals may temper panic selling but also highlight a premium valuation relative to recent earnings weakness.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.