NOV Inc. (NYSE:NOV) Receives Average Recommendation of “Hold” from Brokerages

Shares of NOV Inc. (NYSE:NOV – Get Rating) have been assigned an average recommendation of “Hold” from the seventeen analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $24.13.

NOV has been the topic of several research reports. Piper Sandler reduced their price target on shares of NOV from $22.00 to $21.00 in a research report on Monday, May 1st. Barclays reduced their target price on shares of NOV from $25.00 to $20.00 in a report on Monday, May 1st. Morgan Stanley reduced their target price on shares of NOV from $24.00 to $22.00 in a report on Tuesday, April 18th. Citigroup reduced their target price on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th. Finally, StockNews.com assumed coverage on shares of NOV in a report on Thursday. They issued a “hold” rating on the stock.

Insider Transactions at NOV

In other news, CAO Christy Lynn Novak sold 9,607 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $21.86, for a total transaction of $210,009.02. Following the transaction, the chief accounting officer now directly owns 84,600 shares in the company, valued at $1,849,356. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Christy Lynn Novak sold 9,607 shares of NOV stock in a transaction on Monday, February 27th. The shares were sold at an average price of $21.86, for a total value of $210,009.02. Following the transaction, the chief accounting officer now directly owns 84,600 shares in the company, valued at approximately $1,849,356. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric L. Mattson sold 20,681 shares of NOV stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $21.90, for a total transaction of $452,913.90. Following the completion of the transaction, the director now owns 46,600 shares in the company, valued at $1,020,540. The disclosure for this sale can be found here. Insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On NOV

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd lifted its holdings in NOV by 94.4% in the first quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock valued at $25,000 after acquiring an additional 625 shares during the period. KBC Group NV lifted its holdings in NOV by 52.8% in the third quarter. KBC Group NV now owns 1,638 shares of the oil and gas exploration company’s stock valued at $27,000 after acquiring an additional 566 shares during the period. Ossiam acquired a new stake in NOV in the fourth quarter valued at $27,000. National Bank of Canada FI acquired a new stake in NOV in the fourth quarter valued at $30,000. Finally, Ellevest Inc. lifted its holdings in NOV by 92.4% in the first quarter. Ellevest Inc. now owns 1,599 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 768 shares during the period. 94.18% of the stock is currently owned by hedge funds and other institutional investors.

NOV Trading Down 0.5 %

Shares of NOV stock opened at $15.11 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.35 and a quick ratio of 1.47. The firm has a market cap of $5.95 billion, a PE ratio of 17.99 and a beta of 1.89. The company has a 50-day moving average of $17.36 and a two-hundred day moving average of $20.52. NOV has a 1-year low of $13.98 and a 1-year high of $24.83.

NOV (NYSE:NOV – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.10. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. NOV had a net margin of 4.33% and a return on equity of 6.51%. The business’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) earnings per share. On average, analysts predict that NOV will post 1.32 EPS for the current year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, June 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.32%. NOV’s dividend payout ratio (DPR) is presently 23.81%.

NOV Company Profile

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NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment focuses on the engineering, manufacturing, and support of advanced drilling equipment packages and related capital equipment for oil and gas wells.