NOV (NYSE:NOV) Upgraded by Evercore to “Hold” Rating

Evercore upgraded shares of NOV (NYSE:NOV) to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. BMO Capital Markets boosted their price target on NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday, February 9th. Stifel Nicolaus lifted their price objective on shares of NOV from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Argus raised shares of NOV to a “hold” rating in a report on Tuesday, February 10th. Royal Bank Of Canada upped their target price on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, Susquehanna raised their target price on shares of NOV from $22.00 to $24.00 and gave the company a “positive” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.29.

NOV Price Performance

NYSE:NOV opened at $20.45 on Wednesday. The business’s 50-day simple moving average is $19.41 and its two-hundred day simple moving average is $17.38. NOV has a 52 week low of $11.55 and a 52 week high of $20.93. The stock has a market cap of $7.34 billion, a PE ratio of 85.22 and a beta of 0.94. The company has a quick ratio of 1.67, a current ratio of 2.47 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last released its quarterly earnings data on Monday, April 27th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the company earned $0.19 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, analysts forecast that NOV will post 0.98 EPS for the current fiscal year.

NOV Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a dividend of $0.09 per share. This is a positive change from NOV’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.8%. NOV’s payout ratio is currently 150.00%.

Insider Buying and Selling

In related news, VP Craig L. Weinstock sold 70,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $20.08, for a total value 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 ownership of the stock. The transaction 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 business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the completion of the sale, the insider owned 269,694 shares in the company, valued at $5,439,727.98. This represents a 35.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC boosted its holdings in NOV by 4.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 12,484 shares of the oil and gas exploration company’s stock valued at $235,000 after acquiring an additional 541 shares during the period. Root Financial Partners LLC increased its stake in NOV by 39.9% in the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 552 shares during the period. EverSource Wealth Advisors LLC increased its stake in NOV by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company’s stock worth $115,000 after purchasing an additional 611 shares during the period. Arizona State Retirement System lifted its position in shares of NOV by 0.6% during the third quarter. Arizona State Retirement System now owns 111,185 shares of the oil and gas exploration company’s stock worth $1,473,000 after purchasing an additional 678 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of NOV by 37.9% during the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 709 shares during the period. Institutional investors own 93.27% of the company’s stock.

More NOV News

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.

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.