NOV (NYSE:NOV) PT Lowered to $26.00

NOV (NYSE:NOVGet Free Report) had its target price lowered by analysts at Stifel Nicolaus from $28.00 to $26.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ target price points to a potential upside of 48.40% from the company’s current price.

Other analysts have also recently issued reports about the company. ATB Capital set a $33.00 price target on NOV and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Barclays lowered shares of NOV from an “equal weight” rating to an “underweight” rating and set a $20.00 price objective for the company. in a report on Tuesday, October 17th. Royal Bank of Canada boosted their price objective on shares of NOV from $23.00 to $24.00 and gave the stock a “sector perform” rating in a report on Monday, October 30th. JPMorgan Chase & Co. upgraded shares of NOV from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $22.00 to $25.00 in a report on Friday, December 8th. Finally, Raymond James decreased their price objective on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.40.

Check Out Our Latest Stock Report on NOV

NOV Stock Performance

NOV stock opened at $17.52 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40. The stock’s 50 day simple moving average is $19.67 and its two-hundred day simple moving average is $19.97. NOV has a fifty-two week low of $14.05 and a fifty-two week high of $24.44. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 0.29 and a beta of 1.77.

NOV (NYSE:NOVGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $1.10. NOV had a return on equity of 10.79% and a net margin of 11.57%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, analysts expect that NOV will post 1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NOV

Institutional investors have recently bought and sold shares of the business. Pzena Investment Management LLC grew its position in shares of NOV by 24.6% during the second quarter. Pzena Investment Management LLC now owns 36,790,723 shares of the oil and gas exploration company’s stock valued at $590,123,000 after purchasing an additional 7,259,286 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in NOV by 29.8% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 23,376,075 shares of the oil and gas exploration company’s stock worth $374,952,000 after acquiring an additional 5,365,090 shares in the last quarter. FMR LLC grew its position in NOV by 30.9% in the third quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company’s stock worth $386,962,000 after acquiring an additional 4,369,540 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in NOV by 48.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,822,009 shares of the oil and gas exploration company’s stock worth $246,962,000 after acquiring an additional 3,843,096 shares in the last quarter. Finally, Invesco Ltd. grew its position in NOV by 88.0% in the first quarter. Invesco Ltd. now owns 5,810,818 shares of the oil and gas exploration company’s stock worth $113,950,000 after acquiring an additional 2,720,566 shares in the last quarter. Hedge funds and other institutional investors own 93.19% of the company’s stock.

NOV Company Profile

(Get Free Report)

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

Further Reading

Analyst Recommendations for NOV (NYSE:NOV)

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