NOV Inc. (NYSE:NOV) Receives $24.07 Average PT from Brokerages

Shares of NOV Inc. (NYSE:NOV) have been assigned an average recommendation of “Hold” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $24.07.

NOV has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Piper Sandler lowered their target price on NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. StockNews.com raised NOV from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. TD Cowen reduced their target price on NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Finally, Raymond James dropped their price target on shares of NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th.

NOV Stock Performance

Shares of NOV stock opened at $18.91 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.28. The company has a market cap of $7.48 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 0.79 and a beta of 1.74. The company has a 50 day moving average of $18.74 and a 200-day moving average of $19.09. NOV has a 1-year low of $14.05 and a 1-year high of $21.91.

NOV (NYSE:NOV) last released its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 10.21% and a net margin of 11.23%. NOV’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. As a group, equities research analysts forecast that NOV will post 1.54 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.05 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.06%. NOV’s payout ratio is 8.03%.

Insider Buying and Selling

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of NOV stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the transaction, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NOV

Several institutional investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co increased its position in NOV by 85.4% in the third quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 580 shares during the last quarter. Rise Advisors LLC bought a new position in NOV during the first quarter worth about $26,000. Riverview Trust Co bought a new stake in shares of NOV in the first quarter valued at approximately $39,000. Bruce G. Allen Investments LLC bought a new position in NOV in the 4th quarter worth approximately $49,000. Finally, GAMMA Investing LLC purchased a new position in NOV in the 4th quarter valued at approximately $61,000. Institutional investors own 93.27% of the company’s stock.

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.