NOV (NYSE:NOV) Price Target Cut to $26.00 by Analysts at TD Cowen

NOV (NYSE:NOV) had its target price trimmed by TD Cowen from $27.00 to $26.00 in a research note released on Monday morning, Marketbeat reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.

NOV has been the subject of several other reports. Benchmark cut shares of NOV from a buy rating to a hold rating in a research report on Tuesday, January 16th. Stifel Nicolaus cut their price target on shares of NOV from $28.00 to $26.00 and set a buy rating for the company in a report on Monday, February 5th. StockNews.com upgraded NOV from a sell rating to a hold rating in a research report on Wednesday, January 31st. Royal Bank of Canada reissued a sector perform rating and set a $24.00 target price on shares of NOV in a research note on Tuesday, February 6th. Finally, Susquehanna reaffirmed a positive rating and issued a $26.00 price target on shares of NOV in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $24.07.

NOV Trading Up 2.5 %

Shares of NOV stock opened at $19.34 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.50. The stock’s 50 day simple moving average is $18.64 and its 200-day simple moving average is $19.15. The stock has a market cap of $7.65 billion, a P/E ratio of 7.77, a P/E/G ratio of 0.82 and a beta of 1.74. NOV has a 1-year low of $14.05 and a 1-year high of $21.91.

NOV (NYSE:NOV) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. NOV had a return on equity of 10.21% and a net margin of 11.23%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. Analysts predict that NOV will post 1.52 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.05 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.03%. NOV’s dividend payout ratio is presently 8.03%.

Insider Activity at NOV

In related news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total value of $61,005.00. Following the sale, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On NOV

Several institutional investors and hedge funds have recently modified their holdings of the company. CENTRAL TRUST Co increased its holdings in NOV by 85.4% during the 3rd 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 period. Rise Advisors LLC purchased a new stake in NOV during the 1st quarter worth about $26,000. Riverview Trust Co purchased a new stake in NOV during the 1st quarter worth about $39,000. Bruce G. Allen Investments LLC purchased a new stake in NOV during the 4th quarter worth about $49,000. Finally, GAMMA Investing LLC purchased a new stake in NOV during the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Company Profile

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.