NOV Inc. (NYSE:NOV) Receives $19.36 Average PT from Brokerages

NOV Inc. (NYSE:NOV) has received a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.3571.

Several equities research analysts recently weighed in on the company. Susquehanna increased their target price on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Royal Bank Of Canada increased their target price on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. TD Cowen upgraded NOV from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. Barclays restated an “underweight” rating and set a $21.00 target price (up from $20.00) on shares of NOV in a report on Thursday, May 7th. Finally, The Goldman Sachs Group increased their target price on NOV from $17.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday, March 4th.

Institutional Investors Weigh In On NOV

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in NOV in the 4th quarter worth approximately $28,000. Root Financial Partners LLC lifted its holdings in NOV by 39.9% in the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after buying an additional 552 shares during the period. Altshuler Shaham Ltd lifted its holdings in NOV by 36.8% in the 1st quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 546 shares during the period. Summit Securities Group LLC purchased a new stake in NOV in the 1st quarter worth approximately $40,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in NOV by 659.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock worth $36,000 after buying an additional 1,978 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Up 0.3%

Shares of NOV stock opened at $20.28 on Friday. The stock has a market capitalization of $7.28 billion, a PE ratio of 84.52 and a beta of 0.92. NOV has a 1-year low of $11.65 and a 1-year high of $21.38. The business has a 50-day moving average of $19.79 and a 200 day moving average of $18.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share 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 analysts’ expectations of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. As a group, sell-side analysts anticipate that NOV will post 0.91 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.09 dividend. The ex-dividend date is Friday, June 12th. This represents a yield of 173.0%. NOV’s dividend payout ratio (DPR) is 150.00%.

About NOV

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.