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

NOV Inc. (NYSE:NOV) has been given a consensus rating of “Hold” by the fifteen brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $24.36.

NOV has been the topic of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. ATB Capital set a $33.00 target price on shares of NOV and gave the company an “outperform” rating in a research report on Friday, December 22nd. Susquehanna restated a “positive” rating and issued a $26.00 target price on shares of NOV in a research report on Monday, April 8th. Benchmark lowered shares of NOV from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Raymond James cut their target price 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.

Insider Buying and Selling

In related news, CAO Christy Lynn Novak sold 3,500 shares of NOV stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at $1,990,715.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.85% of the stock is owned by insiders.

Hedge Funds Weigh In On NOV

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in NOV by 0.9% in the third quarter. Vanguard Group Inc. now owns 38,925,240 shares of the oil and gas exploration company’s stock valued at $629,810,000 after purchasing an additional 349,025 shares in the last quarter. BlackRock Inc. increased its stake in NOV by 0.8% in the first quarter. BlackRock Inc. now owns 37,748,140 shares of the oil and gas exploration company’s stock valued at $698,718,000 after purchasing an additional 284,784 shares in the last quarter. FMR LLC increased its stake 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 valued at $386,962,000 after purchasing an additional 4,369,540 shares in the last quarter. State Street Corp increased its stake in NOV by 3.8% in the second quarter. State Street Corp now owns 14,141,887 shares of the oil and gas exploration company’s stock valued at $226,836,000 after purchasing an additional 513,846 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake 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 valued at $246,962,000 after purchasing an additional 3,843,096 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $19.17 on Tuesday. The company has a 50 day moving average of $18.34 and a 200-day moving average of $19.22. NOV has a 1-year low of $14.05 and a 1-year high of $21.91. The company has a current ratio of 2.40, a quick ratio of 1.51 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.58 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74.

NOV (NYSE:NOV) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $1.10. NOV had a net margin of 11.57% and a return on equity of 10.79%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. 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. Investors of record on Thursday, March 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Wednesday, March 13th. NOV’s dividend payout ratio is presently 7.97%.

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.