NOV (NYSE:NOV) Given a $17.00 Price Target by Susquehanna Analysts

NOV (NYSE:NOV) has been assigned a $17.00 price target by research analysts at Susquehanna in a report issued on Wednesday, MarketBeat reports. The firm presently has a “positive” rating on the oil and gas exploration company’s stock. Susquehanna’s price objective would indicate a potential upside of 39.30% from the company’s current price.

Other analysts have also recently issued reports about the company. Stifel Nicolaus cut their price objective on NOV from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Royal Bank Of Canada cut their price objective on NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group cut their price objective on NOV from $16.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Morgan Stanley cut their price objective on NOV from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. cut NOV from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $17.00 to $15.00 in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.69.

NOV Stock Performance

Shares of NYSE NOV opened at $12.20 on Wednesday. The stock has a 50 day moving average price of $13.04 and a 200 day moving average price of $13.55. NOV has a 52 week low of $10.84 and a 52 week high of $18.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58. The stock has a market capitalization of $4.53 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 3.24 and a beta of 1.32.

NOV (NYSE:NOV) last issued its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). NOV had a net margin of 5.36% and a return on equity of 7.25%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts predict that NOV will post 1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NOV

A number of hedge funds have recently added to or reduced their stakes in NOV. Commonwealth Equity Services LLC increased its stake in shares of NOV by 28.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 25,425 shares of the oil and gas exploration company’s stock valued at $371,000 after purchasing an additional 5,605 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of NOV by 17.9% in the 4th quarter. Corient Private Wealth LLC now owns 14,506 shares of the oil and gas exploration company’s stock valued at $212,000 after purchasing an additional 2,198 shares during the last quarter. American Century Companies Inc. increased its stake in shares of NOV by 416.5% in the 4th quarter. American Century Companies Inc. now owns 648,506 shares of the oil and gas exploration company’s stock valued at $9,468,000 after purchasing an additional 522,941 shares during the last quarter. LPL Financial LLC increased its stake in shares of NOV by 23.7% in the 4th quarter. LPL Financial LLC now owns 59,340 shares of the oil and gas exploration company’s stock valued at $866,000 after purchasing an additional 11,364 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of NOV by 11.6% in the 4th quarter. JPMorgan Chase & Co. now owns 887,362 shares of the oil and gas exploration company’s stock valued at $12,955,000 after purchasing an additional 92,006 shares during the last quarter. 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.