Stifel Nicolaus Issues Pessimistic Forecast for NOV (NYSE:NOV) Stock Price

NOV (NYSE:NOV) had its price target reduced by Stifel Nicolaus from $25.00 to $23.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ price target points to a potential upside of 90.40% from the stock’s current price.

Several other equities analysts also recently commented on the company. Susquehanna cut their price objective on NOV from $21.00 to $19.00 and set a “positive” rating on the stock in a research report on Monday. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Barclays boosted their price objective on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Raymond James lifted their price target on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Monday, March 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.00.

NOV Trading Up 0.6 %

NOV stock opened at $12.08 on Tuesday. The firm’s fifty day simple moving average is $14.32 and its two-hundred day simple moving average is $15.03. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. NOV has a twelve month low of $10.84 and a twelve month high of $21.20.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, analysts anticipate that NOV will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On NOV

A number of large investors have recently made changes to their positions in the business. Barclays PLC grew its stake in NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after buying an additional 258,392 shares during the last quarter. Tidal Investments LLC grew its stake in shares of NOV by 20.8% during the third quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company’s stock worth $339,000 after acquiring an additional 3,645 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of NOV during the fourth quarter valued at about $2,514,000. Canandaigua National Bank & Trust Co. raised its position in shares of NOV by 3.5% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock valued at $874,000 after purchasing an additional 2,040 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in NOV by 10.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock worth $271,000 after purchasing an additional 1,656 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.