NOV Inc. (NYSE:NOV) Given Consensus Rating of “Hold” by Brokerages

Shares of NOV Inc. (NYSE:NOV) have been assigned a consensus rating of “Hold” from the sixteen research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.3077.

A number of research analysts have weighed in on NOV shares. Susquehanna upped their price objective on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research report on Thursday, July 30th. Morgan Stanley set a $21.00 price target on NOV in a research note on Wednesday, July 15th. TD Cowen upped their price target on NOV from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Stifel Nicolaus increased their price target on NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, The Goldman Sachs Group set a $19.00 price objective on NOV in a report on Wednesday, June 3rd.

Insider Buying and Selling

In other NOV news, Director David D. Harrison sold 9,594 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $19.21, for a total transaction of $184,300.74. Following the completion of the transaction, the director directly owned 126,763 shares in the company, valued at approximately $2,435,117.23. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.15% of the company’s stock.

Institutional Trading of NOV

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in NOV in the 4th quarter valued at about $28,000. Root Financial Partners LLC increased its stake in NOV by 39.9% during the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after buying an additional 552 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of NOV by 659.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after acquiring an additional 1,978 shares during the last quarter. Rothschild Investment LLC lifted its position in shares of NOV by 50.1% in the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 780 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of NOV in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NYSE NOV opened at $20.63 on Friday. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 79.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.61. The stock’s fifty day moving average price is $19.54 and its 200 day moving average price is $19.57. NOV has a 1 year low of $12.02 and a 1 year high of $21.55.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. NOV had a return on equity of 3.44% and a net margin of 1.10%.The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that NOV will post 0.94 earnings per share for the current year.

NOV Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a yield of 170.0%. NOV’s dividend payout ratio (DPR) is currently 138.46%.

About NOV

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.