NOV Inc. (NYSE:NOV) Receives $21.31 Consensus Price Target from Brokerages

NOV Inc. (NYSE:NOV) has earned a consensus rating of “Hold” from the sixteen research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $21.3077.

Several analysts recently commented on NOV shares. The Goldman Sachs Group set a $19.00 price target on NOV in a research note on Wednesday, June 3rd. Capital One Financial upgraded NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research note on Thursday, June 4th. Zacks Research cut NOV from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research note on Wednesday, June 24th. Finally, Barclays dropped their target price on shares of NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, July 31st.

NOV Stock Down 0.6%

Shares of NOV opened at $21.37 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $19.90 and a two-hundred day moving average price of $19.80. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 82.19 and a beta of 0.94. NOV has a 12 month low of $12.28 and a 12 month high of $21.86.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.14. NOV had a return on equity of 3.44% and a net margin of 1.10%.The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the company posted $0.29 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. Equities analysts predict that NOV will post 0.99 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. NOV’s dividend payout ratio is currently 138.46%.

Insider Buying and Selling at NOV

In other news, Director David Harrison sold 9,594 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $19.21, for a total transaction of $184,300.74. Following the completion of the sale, the director owned 126,763 shares of the company’s stock, valued at approximately $2,435,117.23. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.15% of the company’s stock.

Institutional Investors Weigh In On NOV

A number of large investors have recently bought and sold shares of NOV. Parkside Financial Bank & Trust raised its position in NOV by 133.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,411 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 807 shares during the last quarter. Root Financial Partners LLC grew its holdings in shares of NOV by 39.9% during 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of NOV in the second quarter valued at $37,000. Altshuler Shaham Ltd increased its stake in shares of NOV by 36.8% in the first quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 546 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of NOV in the first quarter valued at about $40,000. 93.27% of the stock is currently owned by institutional investors.

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.