NOV Inc. (NYSE:NOV) Stock Has Average Target Price of $21.23 According to Analysts

NOV Inc. (NYSE:NOV) has been given an average recommendation of “Hold” by the sixteen analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $21.23.

A number of research firms have recently issued reports on NOV. Morgan Stanley set a $21.00 target price on NOV in a report on Wednesday, July 15th. TD Cowen upped their price objective on shares of NOV from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a report on Monday, September 21st. Citigroup lowered their target price on NOV from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Finally, Susquehanna boosted their price target on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a research note on Thursday, July 30th.

NOV Trading Up 0.4%

Shares of NYSE:NOV opened at $19.83 on Wednesday. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 76.28 and a beta of 0.97. NOV has a 1-year low of $13.84 and a 1-year high of $21.93. The company has a 50 day moving average price of $20.05 and a 200 day moving average price of $19.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. NOV had a return on equity of 3.44% and a net margin of 1.10%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. On average, research analysts anticipate that NOV will post 0.99 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, September 11th. NOV’s dividend payout ratio (DPR) is 138.46%.

Insider Buying and Selling at NOV

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

Institutional Investors Weigh In On NOV

Hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust grew its position in NOV by 133.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,411 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 807 shares in the last quarter. Reyes Financial Architecture Inc. bought a new position in shares of NOV during the 3rd quarter worth about $31,000. IFP Advisors Inc increased its stake in NOV by 198.6% in the second quarter. IFP Advisors Inc now owns 1,699 shares of the oil and gas exploration company’s stock valued at $32,000 after acquiring an additional 1,130 shares during the period. Root Financial Partners LLC raised its position 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 in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in NOV during the second quarter worth about $37,000. 93.27% of the stock is owned by institutional investors.

NOV Company Profile

NOV Inc (NYSE: NOV) is a Houston-based technology and equipment provider serving the global energy industry. The company develops and manufactures products and systems used in oil and natural gas drilling, well construction, completion and production operations.

Its offerings include land and offshore drilling rigs, rig equipment and components, downhole tools, drill pipe, wellbore technologies, pressure-control systems, and equipment used to enhance production. NOV also provides aftermarket parts, technical support, maintenance and other services designed to help energy companies operate and maintain their equipment.

The company was formed in 2005 through the merger of National Oilwell and Varco International, building on businesses with much longer histories in the oilfield equipment industry.