NOV (NYSE:NOV) Earns Positive Rating from Susquehanna

Susquehanna reiterated their positive rating on shares of NOV (NYSE:NOV) in a report released on Monday morning, Benzinga reports. The brokerage currently has a $26.00 price target on the oil and gas exploration company’s stock.

A number of other research firms also recently issued reports on NOV. Piper Sandler dropped their target price on shares of NOV from $25.00 to $22.00 and set a neutral rating for the company in a research report on Tuesday, February 20th. Stifel Nicolaus dropped their target price on shares of NOV from $28.00 to $26.00 and set a buy rating for the company in a research report on Monday, February 5th. TD Cowen dropped their target price on shares of NOV from $31.00 to $30.00 and set an outperform rating for the company in a research report on Monday, February 5th. Raymond James dropped their target price on shares of NOV from $28.00 to $25.00 and set an outperform rating for the company in a research report on Monday, February 5th. Finally, Benchmark downgraded shares of NOV from a buy rating to a hold rating in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $24.36.

NOV Trading Down 0.9 %

NYSE NOV opened at $20.09 on Monday. NOV has a 12 month low of $14.05 and a 12 month high of $21.91. The company has a 50-day moving average of $18.26 and a 200-day moving average of $19.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.51. The company has a market cap of $7.95 billion, a P/E ratio of 8.00, a P/E/G ratio of 0.38 and a beta of 1.74.

NOV (NYSE:NOV) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas exploration company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $1.10. NOV had a net margin of 11.57% and a return on equity of 10.79%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the company posted $0.26 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts predict that NOV will post 1.54 earnings per share for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s dividend payout ratio (DPR) is currently 7.97%.

Insider Activity

In other news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the transaction, the chief accounting officer now directly owns 114,212 shares in the company, valued at approximately $1,990,715.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On NOV

Several institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd lifted its stake in NOV by 94.4% during the first quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after purchasing an additional 625 shares during the last quarter. CENTRAL TRUST Co lifted its stake in NOV by 85.4% during the third quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 580 shares during the last quarter. Rise Advisors LLC bought a new position in NOV during the first quarter worth $26,000. Acadian Asset Management LLC bought a new position in NOV during the first quarter worth $34,000. Finally, Belpointe Asset Management LLC lifted its stake in NOV by 66.0% during the first quarter. Belpointe Asset Management LLC now owns 2,491 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 990 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

About NOV

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.