NOV Inc. (NYSE:NOV) Receives $15.83 Consensus Target Price from Brokerages

Shares of NOV Inc. (NYSE:NOV) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $15.8333.

NOV has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on NOV from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, December 18th. Zacks Research upgraded shares of NOV from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. The Goldman Sachs Group upped their target price on shares of NOV from $12.00 to $14.00 and gave the stock a “sell” rating in a report on Wednesday, November 5th. Citigroup increased their target price on shares of NOV from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Stifel Nicolaus boosted their price target on shares of NOV from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th.

NOV Stock Up 0.1%

NOV stock opened at $15.63 on Thursday. The firm has a 50 day simple moving average of $15.26 and a 200 day simple moving average of $13.80. The company has a current ratio of 2.55, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26. NOV has a 1-year low of $10.84 and a 1-year high of $16.96. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 5.18 and a beta of 0.97.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.During the same period in the prior year, the business earned $0.33 earnings per share. NOV’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts predict that NOV will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, December 5th. NOV’s dividend payout ratio is currently 30.00%.

Insider Activity at NOV

In related news, Director Christian S. Kendall acquired 70,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the transaction, the director owned 85,949 shares in the company, valued at approximately $1,242,822.54. This trade represents a 438.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On NOV

A number of hedge funds and other institutional investors have recently bought and sold shares of NOV. CoreFirst Bank & Trust bought a new position in shares of NOV in the 2nd quarter worth $35,000. UMB Bank n.a. raised its position in NOV by 114.1% during the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 1,657 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in NOV by 395.3% during the second quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 2,921 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of NOV by 33.2% in the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 931 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of NOV by 119.7% in the 1st quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company’s stock worth $52,000 after purchasing an additional 1,856 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.